Market News

97% of U.S. corn crop planted

U.S. corn planting is just about complete with the USDA reporting that as of Sunday, 97% of the corn crop has been planted, steady with a year ago and 2% behind the five year average. Some critical areas, including Illinois and Indiana, are still behind average and analysts expect that at least some of the unplanted acreage will be switched from corn to soybeans.

87% of corn has emerged, compared to 87% last year at this time and the five year average of 94%. 69% of corn is in good to excellent condition, down 1% from the previous week but up 9% from a year ago.

78% of soybeans have been planted, compared to 76% a year ago and the five year average of 87%, with most major growing areas making good progress in the past week. 55% has emerged, compared to 52% last year at this time and the five year average of 70%.

Spring wheat planting continues to crawl to a finish at 96% planted. 84% has emerged, compared to 97% both a year ago and on the five year average. Despite planting problems, 72% of spring wheat is in good to excellent condition.

5% of this year’s winter wheat crop has been harvested, compared to 10% on average, with 44% of the crop in the good to excellent category.

59% of U.S. pastures and range lands are in good to excellent condition, up 1% on the week.