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.
#Corn planting progress is ahead of normal, especially west of the Mississippi River, while emergence is close to normal due to cool dry soils. #oatt pic.twitter.com/AHkF9wCqsx — Arlan Suderman (@ArlanFF101) May 10, 2021
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.
A little rain, some pre-WASDE jitters and computers to amplify the move on momentum trades translates into sell-off. #corn dn 19-27, #soybeans dn 2-22, #wheat dn 33, KC dn 35 #oatt — Arlan Suderman (@ArlanFF101) May 10, 2021
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.
