Marc Schober is the editor of Farmland Forecast an educational blog devoted to investments in agriculture and farmland.
Weekly USDA Crop Progress: Soybean planting progress falls behind historical average
May 25, 2010
Yesterday, the USDA released its weekly planting progress report. Progress in corn planting is almost complete across the 18 primary producing states. During the last week, 6% of the entire corn crop was planted; bringing the total planted crop at 93%. This compares to a 5 year historical average of 89% in similar time periods, and 2009’s estimate of 80%.
The USDA estimated corn emergence of 71% for the 2010 crop, which is above both the 5 year historical average of 62% and the 2009 estimate of 50%. 71% of the corn crop is in good or excellent condition, while 24% is in fair condition and 5% is in poor or very poor condition.
Of the 18 primary soybean producing states, 53% of soybeans have been planted, and 24% have already emerged. The 5 year historical average is 57% planted and 23% emerged. By this week last year, 44% of the soybean crop had been planted and 15% had emerged.
The planting of spring wheat continued on pace with the 5 year historical average, bringing the 2010 planting progress of 91% equal to the 5 year historical average. By this time last year, 75% of the spring wheat crop had been planted. Spring wheat emergence is still slightly ahead of schedule. The USDA estimated that 70% of the crop has emerged already, compared to the 5 year historical average of 68% and last year’s 42%.
The winter wheat crop continues to be in above fair condition. 66% of the winter wheat crop is in good or excellent condition, while only 9% is in poor or very poor condition. Last year, 45% of the crop was in good or excellent condition while 27% was in poor or very poor condition. The percent of headed winter wheat for this year’s crop was at 63% this week, which is 3% less than in 2009. The 5 year historical average is 68% for the week.
Corn prices increased 3.7% over the past week ending at $3.69 per bushel and soybeans were down 0.7% to $9.41 per bushel. Year-over-year corn prices are down 16.0% and soybeans are off 26.0%.
Next week we look forward to continuing our reporting of USDA estimates of corn and soybean conditions, along with the usual planting progress.
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