US corn planting seen up to 6% complete

US farmers completed up to 5-6 % of their corn planting for the year, in line with the average for mid-April, according to analysts and traders.

The market will get its first peek at farmers' progress when the USDA releases its first weekly planting update of the season on Monday (Apr 19) afternoon. "I'm expecting it about 6%, and that's a pretty good number," said Mario Balletto, analyst for Citigroup.

The report is expected to show that farmers were on track for a normal planting year despite a wet harvest season that prevented many farmers from completing key field preparation tasks last fall.

"If we can continue over the next couple of weeks with decent weather, with only short interruptions, we should be in pretty good shape," said Shawn McCambridge, grains analyst with Prudential Bache Commodities. "Farmers can get an awful lot done in a short period of time."

McCambridge estimates planting progress at 2-4%, below most other estimates.

In 2009, US corn planting was only 2% complete as of April 12 compared to a mid-April average of 6% for the five previous years.

"We're looking for plantings 4-6% complete and that's about in line with five-year averages," a trader said. "Overall favourable planting weather is seen in the US this week.''

Wet springs have delayed planting the past few years but warmer-than-average temperatures this year have allowed many farmers to stick to their regular schedule. Farmers in most parts of the Corn Belt, including as far as north as Minnesota, have been able to at least start their field tasks.

Farmers in the Midwest aim to have corn planting finished by mid-May so the plants will be past their key pollination phase when scorching temperatures arrive during July.