“The improved weather forecast for this week should push the corn harvest. The movement of fresh corn supplies into the pipeline will likely limit near-term rallies. A concern with the wet harvest is regarding crop quality as some fields may be susceptible to molding or sprouting ears,” Heinberg said. “The USDA crop progress report showed harvest progress nationally moved behind the five-year average. As of Oct. 4, corn harvest was 23% complete, but below expectation and 4% behind the five-year average. Iowa is one of the biggest delayed states with only 7% of the crop harvest due to wet conditions. The five-year average for Iowa is 20%.”
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