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AGRIBUSINESS: Corn, Soybean Harvest Ahead Of Pace

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Monday's crop progress report showed 75% of the state's corn and 95% of Iowa soybeans are in the bins, both ahead of the 5-year harvest average for the first time this year. Last week soybeans overtook the average for the first time.

On the national front, harvest is also ahead of pace, but only one to two percentage points; corn across the country is 73% harvested, while soybean harvest has progressed to 86% complete.

Some producers are also still waiting to dry down high-moisture content corn, an issue Iowa Ag Secretary Bill Northey says is complicated by limited supplies of propane.

Recent rains have helped soil moisture - 57% of statewide topsoil moisture and 36% of subsoil moisture are in the adequate to surplus categories - 10% and 3% increases from last week, respectively.