U.S. Corn Planting Nears 70% Complete

The last seven days were busy with corn planting across the U.S. As of May 9, USDA reports 67% of the U.S. corn crop is in the ground. That’s a 21-percentage point jump from May 2. Corn planting is in line with last year, and 15 percentage points above the five-year average for early May.

This week’s planting progress numbers perfectly aligned with the Reuters’ poll of analysts, who called for 67% of planned corn acres to be planted.

The states with the most planted corn include:

• North Carolina: 90% planted
• Iowa: 86% planted
• Minnesota: 85% planted
• Texas: 76% planted
• Tennessee: 75% planted
• Illinois: 74% planted
• Kentucky: 71% planted
• Nebraska: 71% planted

Around 20% of the U.S. crop has emerged, which matches the average pace.

For soybeans, 42% of U.S. acres are planted. That’s an 18-percentage-point jump from last week and 20% ahead of the five-year average for early May.

Ahead of the report, analysts polled by Reuters expected 40% of planned soybeans acres to be planted.

The states with the highest percentages of soybeans in the ground include:

• Iowa: 67% planted
• Minnesota: 65% planted
• Mississippi: 64% planted
• Illinois: 57% planted

Around 10% of U.S. soybeans have emerged, which is ahead of the five-year average of 4% emerged by early May.

Corn, soybean and wheat prices are all down from their recent multi-year highs. The next market mover will be Wednesday’s World Agricultural Supply and Demand Estimates.

Cotton planting progress sits at 25% complete, which is an average pace. Rice and sorghum planting are also in line with average progress.

Spring wheat is currently 70% planted, which is around 20 percentage points ahead of average planting progress.