June 6, 2023

US corn crop progress ahead of last season, soybean plantings well underway

According to the weekly crop progress report released by the US Department of Agriculture (USDA), 96% of the US corn crop has been completed with soybeans at 91% sowed, Independent Commodity Intelligence Services reported.

In comparison, last season's US corn crop progress at this point was 93%, and the five-year average stands at 91%. The majority of reporting states, including Iowa and North Carolina, have completed their corn acreage, while the remaining states are at 83% or above.

The report also states that 85% of the US corn crop has emerged, with 64% of it rated as being in good or excellent condition. These figures indicate a positive outlook for corn production.

In terms of soybeans, 91% of the crop completed is notably higher than the 76% achieved last season and the five-year average of 76%. Iowa leads the way in soybean plantings, with 98% of the acreage completed.

The report reveals that 74% of the soybean crop has emerged, with 62% of it rated as being in good or excellent condition. These numbers suggest a promising start for the soybean crop.

As the crops near completion, overall fertiliser demand has decreased, but secondary applications are expected to commence in areas unaffected by recent rainfall shortages.

-      Independent Commodity Intelligence Services