USDA Crop Progress
Corn
After the close of CBOT last night the USDA reported the corn harvest is 54% completed as of Sunday, which fell within trade expectations of 50 to 60 percent completion, but well below the five year average of 77% done. That is only up 17 points from last week's 37% done, and harvesting this week is expected make slower progress than the past 2 weeks with recurring showers on 3-4 days, according to Gail Martell of Martell Crop Projections. Northern states in particular continue to lag with progress in North Dakota just 8% complete. Major corn producing state of Illinois was only 52% done, compared with 95% normally at this time of year.
Wheat
The USDA reported that winter wheat plantings at 90% completed, which is 5 percentage points behind the 5-year average. Emergence was reported at 77%, 10 percentage points behind the 5-year average. In the potential problem SRW states of Illinois, Indiana and Missouri emergence was only 45% (92% normally), 55% (90%) and 33% (72%) respectively. As of Sunday Arkansas wheat was only 52% planted (80% normally), Illinois 77% (98%), Indiana 85% (98%). More heavy rainfall this week will stall wheat planting in the Mid South, according to Martell Crop Projections. It is getting too late to get all the intended acres sown, moreover reduced yields can be expected on under-developed wheat, they add.
Soybeans
The USDA reported soybean harvest is 89% completed as of Sunday, which fell slightly below trade expectations of 90 to 92 percent completion, and the five year average of 96%. Illinois continues to lag with 10% of the crop still in the fields, normally harvesting is 99% complete at this juncture.
After the close of CBOT last night the USDA reported the corn harvest is 54% completed as of Sunday, which fell within trade expectations of 50 to 60 percent completion, but well below the five year average of 77% done. That is only up 17 points from last week's 37% done, and harvesting this week is expected make slower progress than the past 2 weeks with recurring showers on 3-4 days, according to Gail Martell of Martell Crop Projections. Northern states in particular continue to lag with progress in North Dakota just 8% complete. Major corn producing state of Illinois was only 52% done, compared with 95% normally at this time of year.
Wheat
The USDA reported that winter wheat plantings at 90% completed, which is 5 percentage points behind the 5-year average. Emergence was reported at 77%, 10 percentage points behind the 5-year average. In the potential problem SRW states of Illinois, Indiana and Missouri emergence was only 45% (92% normally), 55% (90%) and 33% (72%) respectively. As of Sunday Arkansas wheat was only 52% planted (80% normally), Illinois 77% (98%), Indiana 85% (98%). More heavy rainfall this week will stall wheat planting in the Mid South, according to Martell Crop Projections. It is getting too late to get all the intended acres sown, moreover reduced yields can be expected on under-developed wheat, they add.
Soybeans
The USDA reported soybean harvest is 89% completed as of Sunday, which fell slightly below trade expectations of 90 to 92 percent completion, and the five year average of 96%. Illinois continues to lag with 10% of the crop still in the fields, normally harvesting is 99% complete at this juncture.
