US corn and soybean planting moved ahead of the five-year average pace this past week.
Monday’s USDA crop progress report showed nationwide corn planting at 12% complete as of Sunday. That is up 8 points from a week earlier and ahead of 11% last year and 10% on average. Meanwhile, the American soybean crop was 8% planted as of Sunday, compared to 2% the previous week, 7% last year and 5% on average.
A week earlier, corn planting was trailing the five-year average by a single point, with soybeans on par with the average.
Aggressive planting was noted in many states over the weekend in areas where they could seed, and late last week farmers “were going after it hard,” Marex said in a market note today. However, the weekend turned wet, pushing farmers out of the fields. More wet weather is expected this week, although high winds are drying things out quickly.
In the top production state of Iowa, corn planting jumped 16 points on the week to reach 18% complete as of Sunday, 6 points ahead of last year and 11 points ahead of the state average. Soybean planting in Iowa was 11% done as of Sunday, versus 1% a week earlier, 7% last year and 3% on average.
Illinois corn planting advanced 6 points from a week earlier to 7% complete, behind 10% last year and 11% on average. Soybean planting in the state was 10% done, up from 2% a week earlier and compared to 10% last year and 7% on average.
At 2% complete, Indiana corn planting was on par with last year but 3 points behind the state average, while soy planting 3% done, 1 point ahead of last year but on par with average.
Michigan and Ohio corn planting is just getting underway, estimated at 1% and 2% complete as of Sunday, respectively – both on par with average. No soybean planting was reported in either state, compared to 1% and 2% complete on average.
An estimated 2% of the US corn crop had emerged as of Sunday, 1 point behind last year but in line with the average.
