Evening Report (VIP) -- June 3, 2013

June 3, 2013 09:39 AM
 

CORN PLANTING 91% COMPLETE... USDA reports 91% of intended corn acres were planted as of Sunday, which compares to 86% last week and 95% on average. Illinois has 91% planted (95% on average); Indiana is at 94% (88% on average), Iowa is at 88% (99% on average); Minnesota is at 87% (98% on average); and Nebraska is at 99% (99% on average). Remaining unplanted acreage at this late date is at risk of being switched to another crop, claimed as Prevent Plant or planted very late.

USDA reports 74% of the crop has emerged, which compares to 96% a year-ago, 54% last week and 82% on average. Illinois has 81% emerged (83% on average); Indiana is at 77% (73% on average); Iowa is at 73% (91% on average); Minnesota is at 65% (86% on average); and Nebraska is at 84% (90% on average).

Corn

very poor

poor

fair

good

excellent

This week

2

5

30

52

11

Year-ago

1

4

23

57

15


According to the first crop condition report of the season, USDA rates 63% of the crop in "good" to "excellent" shape, compared to 72% last year at this time and 7% in "poor" to "very poor" shape, compared to 5% last year.

 

 

SOYBEAN PLANTING 57% COMPLETE... USDA reports 57% of the nation's intended soybean acres have been planted as of Sunday, which compares to 44% last week and 74% on average. Illinois has 49% planted (69% on average); Indiana at 76% (66% on average); Iowa at 44% (91% on average); Minnesota at 55% (88% on average); and Nebraska is at 81% (89% on average).

USDA reports 31% of the crop has emerged, compared to 14% last week, 76% last year at this time and 49% on average -- reflecting a crop that is at least a week behind its normal pace. Illinois has 32% emerged (45% on average); Indiana at 48% (45% on average); Iowa at 23% (65% on average); Minnesota at 18% (54% on average); and Nebraska is at 47% (63% on average).

 

 

CONDITION OF WINTER WHEAT CROP MIXED... USDA reports the percent of crop rated "excellent" and "very poor" gained one percentage point from last week, with the portion of crop rated "fair" picking up two percentage points from last week to give this week's report a "mixed" review.

Winter Wheat

very poor

poor

fair

good

excellent

This week

24

19

25

26

6

Last week

23

19

27

26

5

Year-ago

6

12

30

40

12


USDA reports 73% of the crop had headed by Sunday, compared to 60% last week and 80% on average. Kansas has 93% headed (98% on average); Oklahoma is at 94% (100% on average); and Texas is at 91% (99% on average).

 

 

SPRING WHEAT IN WORSE SHAPE THAN YEAR-AGO... USDA reports the condition of the spring wheat crop is in worse shape than last year at this time, as 64% is rated "good" to "excellent," compared to 78% last year. USDA rates 8% of the crop "poor" to "very poor," compared to just 2% last year.

Spring Wheat

very poor

poor

fair

good

excellent

This week

4

4

28

53

11

Year-ago

0

2

20

65

13


Just 80% of the spring wheat crop was planted as of Sunday with top producer North Dakota at only 64% seeded (89% on average). USDA reports 61% of the crop has emerged, compared to 42% last week and 80% on average. Only 42% of the crop has emerged in North Dakota (73% on average).

 

 

COTTON PLANTING 82% COMPLETE... USDA reports cotton planting advanced by 23 percentage points from last week to 82% complete, which compares to 87% last year and 83% on average. Texas has 78% planted (77% on average). Meanwhile, USDA reports 4% of the crop is squaring, compared to 11% last year and 7% on average.

 

 

NWS 6-10 DAY FORECAST: NORMAL TO BELOW-NORMAL PRECIP FOR CORN BELT... The National Weather Service (NWS) forecast for June 9-13 calls for below-normal precip across Minnesota, the Dakotas and Nebraska southward and westward, with normal precip expected across Iowa, Missouri, Illinois, Indiana and western Ohio. Above-normal precip is forecast from eastern Ohio eastward. The entire Corn Belt is forecast to see below-normal temps during the period. Traders will view the precip forecast as more friendly for late planting efforts. Click here for related maps.

 

 

MORE RAIN IN NEAR-TERM FORECAST... Meteorologist Gail Martell of MartellCropProjections.com says wet and cool conditions are expected to continue across the Corn Belt this week, keeping planting delays on traders' minds. Up to three inches of rain are expected in southeast Iowa and western Illinois this week. Click here for related maps.

 

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