May 2, 2012

US corn planting jumps 53%

USDA's weekly Crop Progress report stated that 53% of corn has now been planted despite wet weather limiting corn planting for some farmers.

This is well above the five-year average of 27% and last week's report of 28%. This week's progress is also more than four times above last year's pace of 12%.

The fastest progressing states currently are Tennessee (93%), North Carolina (89%) and Kentucky (86%). Texas (70%), though reporting more planted corn than the national average, has struggled in the past few weeks and is now five percentage points below their 2011 pace.

Ohio, on the other hand, is speeding through their planting season when compared to their 2011 planting progress. This week 57% of the state's corn is in the ground, compared to 1% last year. 

This week Iowa made the most progress, jumping from 9% last week to 50% this week.

Nationally, 15% of the corn has now emerged, with higher percentages in Tennessee (75%), North Carolina (62%), Texas (58%) and Kentucky (56%). This week's report showed emerged corn more than triple the report from 2011 and more than double the five-year average.

Soy planting is also progressing, having doubled from last week's report to 12%. Similar to corn planting, southern states are leading in soy planting with Mississippi at 59%, Arkansas at 45% and Louisiana at 42%. Virginia is the only state not yet reporting any progress in soy planting.

Next week's report may show a slow-down in Corn Belt planting though. According to Doane Agricultural Services, showers are expected to dominate the Midwest over the next week to 10 days, causing possible planting delays.