Corn and Soybean Planting Not as Aggressive as Anticipated

Posted on Mon, 05/11/2020 - 15:53

Corn planting advanced 16 percentage points over the past week to 67% complete. While that’s 11 percentage points more advanced than the five-year average, it fell short of the 71% completion rate analysts surveyed by Reuters anticipated.

USDA said as of Sunday, 24% of the crop had emerged, which was two points ahead of the five-year avearge. Illinois has 23% of the crop out of the ground (versus 35% for the five-year average), with Indiana at 13% (15% average), Iowa at 33% (20%), Kansas at 29% (32%), Minnesota at 32% (16%), Nebraska at 30% (18%) and South Dakota at 7% emerged (7% on average). 

 

Soybean planting also not quite as advanced as anticipated

Soybean planting also advanced less than the market anticipated over the past week, with showers in some areas of the Corn Belt. As of Sunday, USDA reports 38% of the U.S. bean crop had been seeded, which was a 15-point gain from last week but four points slower than analysts surveyed by Reuters anticipated. Progress is faster than normal in nearly every top-producing state, with the western Corn Belt leading the charge. Illinois has seeded 43% of its intended acres (25% for the five-year average), with Indiana at 37% planted (18%), Iowa at 71% (24%), Minnesota at 57% (30%), Missouri at 14% (18%), Nebraska at 54% (23%), North Dakota at 4% (17%) and South Dakota at 23% planted (13%).

Just 7% of the crop was emerged as of Sunday, which was fortunate given the weekend cold snap. That is three points ahead of average.

 

Cotton planting near a third complete

As of Sunday, 32% of the U.S. cotton crop had been seeded, which compares to 18% last week and 27% on average. Texas now has 37% of its crop in the ground, which is 17 points ahead of the five-year average pace. Georgia has seeded 26% of its intended acres versus the usual 29%.

 

Spring wheat planting falls even farther behind

Spring wheat planting progress advanced just 13 percentage points over the past week to 42% complete, with cold temperatures and snow slowing efforts. Analysts surveyed by Reuters expected a 20-point jump to 49% planted. Progress now lags the five-year average by 21 percentage points. Planting progress is slower than average in Minnesota, Montana, and the Dakotas, with the biggest lag occurring in North Dakota where planting is just 27% complete, 29-points behind the five-year average.

USDA reports that as of Sunday, 16% of the spring wheat crop had emerged, compared to 29% on average.

 

Winter wheat rating resumes its slide

USDA cut the amount of winter wheat it rates “good” to “excellent” by two percentage points, with 53% of the crop falling in those categories. Analysts had expected a one-point slide on average, though there was a pretty wide range of estimates. USDA now rates 16% of the crop in “poor” to “very poor” condition, which is up two points from last week and double last year at this time. A freeze last month followed by triple digit heat and dry weather in far southern areas and another freeze over the weekend for crops in the Midwest and Northern Plains have taken a toll on the crop.

Forty-four percent of the U.S. winter wheat crop was headed as of Sunday, which is six points behind the average pace. The slower development of the crop likely helped it to skirt even more damage from freezing temperatures over the weekend. It will take time to assess the impact of the latest freeze.

 

This week

Last week

Year-ago

Very poor

5

4

2

Poor

11

10

6

Fair

31

31

28

Good

45

48

49

Excellent

8

7

15