After a week of drier weather, the nation's farmers getting into fields making real progress on a now late 2019 Crop. USDA latest Crop Progress report shows the nation's corn crop is now 83% planted. That's compared to last week's 67% and the five-year average of 99% planted. Ohio is running the furthest behind with only half the crop now in the ground.
Craig Turner, the author of "Turner's Take" and a broker at Daniels Trading, tells AgDay's Clinton Griffiths markets are now moving past planting pace.
"The weather's improving the market starting to price that in and that's why we're seeing consolidation," says Turner. "The second leg of that will most likely focus on yield going forward."
A good yield means having good crop conditions. As for conditions, in its first report of the year, USDA says 59% of corn is good to excellent which is well behind last year's crop rated as 77% good to excellent.
Turner explains how late planting affects yield in the video interview on AgDay.