The U.S. corn farmers are approaching being halfway done putting this year’s crop in the ground, according to the USDA. But, extended drying out periods, due to recent rains, could slow planting this week.
In its weekly Crop Progress Report Monday, the governmental agency noted that 45% of corn has been planted, compared with a 30% five-year average.
In its report, the USDA pegged the national corn emergence rating at 13% vs. a 8% five-year average.
Al Kluis, Kluis Commodities, says that the USDA corn planting rating is close to what he expected, while others in the trade expected 47% of the corn to be in the ground.
“The states that are way ahead are in the central Corn Belt with Iowa, Illinois, Missouri, and Minnesota way ahead of normal. With all of the weekend rain and now just a four to five day window to plant later this week, I do not think a lot will be done in the western Corn Belt this week,” Kluis says.
Kluis adds, “Today’s report is slightly negative for prices tonight. I expect corn to start out 1 to 2 cents lower tonight.”
For soybeans, 8% of the nation’s crop has been planted vs. a 6% five-year average.
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