May 15, 2007
US crop progress wrap: Corn planting ahead of expectations
The US Department of Agriculture reported Monday (May 14) afternoon that US corn planting continues to roll, while soybean planting is slightly above last year's pace and the five-year average.
The winter wheat crop has stabilised from the freezing conditions experienced over the Easter weekend, and spring wheat planting is ahead of schedule.
Corn
The USDA reported that 78 percent of the US corn crop was planted as of May 13, below the 83 percent planted in 2006 but in line with the five-year average of 78 percent.
Traders and analysts had expected corn planting at 70 percent to 75 percent complete.
Plantings were right in line with the five-year average and above estimates, said Brian Hoops, president of Midwest Market Solutions in Yankton, S.D.
Although planting remains behind that of a year-ago, the weather forecasts for this week should allow farmers to catch up to last year and move ahead of the average pace, Hoops said.
"Overall the report is slightly bearish," Hoops said.
In Iowa, where the western one-third of the state has experienced heavy rains in recent weeks, 77 percent of the crop has been seeded, behind the 90 percent sown in 2006 and the five-year average of 87 percent.
The state is still behind and that is a concern, but producers should make progress this week, he said.
Overall, 39 percent of the crop has emerged, compared to 41 percent last year and the five-year average of 36 percent.
Soybeans
Thirty-two percent of the crop was reported planted as of May 13, slightly higher than the 31 percent planted last year and the five-year average of 31 percent.
Soybean plantings were slightly above expectations, so "it's a bit bearish," said Hoops.
States east of the Mississippi reported favourable planting progress while states west of the Mississippi remained behind average.
In Illinois, 44 percent of the crop has been planted, above the 29 percent seeded in 2006 and the five year average of 32 percent.
One western US Midwest state that reported above-average seedings was Minnesota, which reported 45 percent of the soybean crop planted, well above the 19 percent planted last year at this time and the five-year average of 32 percent.
In Iowa 24 percent of the crop was planted, behind the five year average of 37 percent.
Nationally, 6 percent of the crop has emerged, compared with 8 percent last year and the five-year average of 8 percent.
Winter wheat
The USDA reported that 58 percent of the US winter wheat crop was in good-to-excellent condition, up one percentage point from last week and slightly higher than the unchanged-to-one percentage-point decline expected by analysts.
In Kansas, the nation's no. 1 wheat-producing state, 38 percent of the crop was in good-to-excellent condition, up one percentage point from last week.
Conditions in several soft red winter wheat states improved, with Illinois up 11 percentage points to 37 percent in the good-to-excellent category, while Ohio saw a six-percentage-point gain in the category from last week.
There was a small improvement in wheat conditions, but there won't be much change to the ratings from now until the end of the month unless farmers start combining some of the poorer crop first, said Hoops.
Fifty-one percent of the crop is reported headed compared to the five-year average of 57 percent, Hoops said.
Spring wheat
Eighty-seven percent of the spring wheat crop has been planted, compared with 76 percent last year and the five-year average of 74 percent.
Farmers made good progress planting the spring wheat crop this past week, Hoops said. The crop's good-to-excellent rating looks very strong for this time of year, he said.
Seventy-nine percent of the crop is reported in good-to-excellent condition, sharply higher than the 32 percent reported last year.
Fifty-one percent of the crop was reported emerged, compared to the five-year average of 43 percent.
"The crop is off to an excellent start," Hoops said.
