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AGRIBUSINESS: Harvest Makes Rapid Progress

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Monday's crop progress report showed significant harvest progress both in-state and across the U.S.

National corn harvest progress is pegged at 59% by USDA, which is a 20-point jump over last week's figures, though still below the 5-year completion rate of 62%.

U.S. soybeans are 77% combined, which is a 14-point increase and equal with the 5-year average.

Here in Iowa, the corn and soybean harvest progressed rapidly last week, with a 20-point increase on corn and 17-point gains on soybeans.

Currently Iowa corn is 55% in the bins, 5% behind the 5-year average. Soybeans are 87% combined, with progress 2 days ahead of normal.

According to state climatologist Harry Hillaker, the week averaged 9° cooler than normal, and a hard freeze hit on three different days across the state.