USDA To Extend Crop-Progress Monitoring By One Week

Late harvesting is the reason for the extension, said Lance Honig, chief of the crops branch for USDA’s National Agricultural Statistics Service. “Quite frankly, with the harvest running as far behind as it is, we just felt like we wanted to continue that report until we get a lot closer to the actual completion of harvest,” Honig told Dow Jones Newswires.

There is the possibility, he said, the monitoring may have to continue even longer if harvesting runs even later than expected.

“We’re going at least one week extra already,” Honig said. “If we’re not far enough along (with the harvest), we’ll keep going.”

CME Group