April 22, 2008

 

US corn growers make minimal progress, 4 percent planted

 

 

US corn growers made minimal planting progress last week, with none of the crop seeded yet in Iowa or Indiana, the US Department of Agriculture said Monday in its weekly crop progress report.

  

Corn planting was 4 percent complete as of Sunday, up from 2 percent last week but below the average of 17 percent, according to the USDA. Traders had expected planting to be 7 percent to 10 percent complete, in line with the 9 percent planted at this time last year.

 

None of the crop has been planted yet in Iowa, compared to the 6 percent seeded last year and the average of 12 percent, the USDA said. Planting has not started in Indiana either, down from the 3 percent planted last year and the average of 13 percent.

 

In Illinois, 1 percent of the crop was planted, compared to 9 percent last year and the average of 29 percent. In Missouri, 4 percent of the crop was planted, down from 28 percent last year and the average of 53 percent, the USDA said.

 

Persistent wetness and cool temperatures in the corn belt have kept farmers out of their fields this spring.

 

The slow pace of planting should lend support to Chicago Board of Trade corn futures, especially after the market's sharp setback Monday, said John Kleist, analyst for Allendale.

 

"It's not a huge surprise, but it certainly is a meaningful surprise," he said of the slower-than-expected planting pace. "It's going to make the weather forecast even that much more crucial. We've still got an open window (to plant). We've just got to make sure we get it in before it shuts."

 

 

Spring Wheat

 

Spring wheat planting was 20 percent complete, compared to 8 percent last week. Traders had expected seeding to be 10 percent to 20 percent complete. The crop was 12 percent seeded at this time last year, and the average is 23 percent.

 

"In general, it seems to have a decent start going for it," Kleist said.

 

In North Dakota, 15 percent of the crop was in the ground, up from 2 percent last year and the average of 13 percent, according to the USDA. In Minnesota, 2 percent was planted, down from 3 percent last year and the average of 16 percent.