May 11, 2022

USDA: Slow Start to Corn Planting Continues

Farmers are having the slowest start in nine years

The USDA released its Crop Progress Report on May 9, which reflected progress on farms as of Sunday, May 8.

The latest data shows planting is off to the slowest start in nine years with only 22% of the nation's corn crop planted.

Corn, soybeans and spring wheat plantings were about half the average pace from the 2017-21 crop years.

Corn: The report noted corn planted at 22%, compared with 50% for the previous five-year average; 5% has emerged compared with 15% for the previous five-year average.

Soybeans: The report has 12% of soybeans planted, compared with 24% for the previous five-year average; 3% has emerged compared with 4% for the previous five-year average.

Wheat: Spring wheat planted was reported at 27% compared with 47% for the prior five-year average; 9% has emerged compared with 15% for the previous five-year average.

Winter wheat headed came in at 33% vs. the 40% five-year average. Winter wheat condition was 29% good/excellent and 39% poor/very poor. This compares with the previous year average of 49% good/excellent and 18% poor/very poor.

Read the full report.

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Marketwatch: May, 28

US Corn Price Idx: ZCPAUS.CM

open: 7.6273
high: 7.741
low: 7.6223
close: 7.7113

US Soybean Price Idx: ZSPAUS.CM

open: 16.9414
high: 17.1044
low: 16.9237
close: 16.9795

US Hard Red Winter Wheat Price Idx: KEPAUS.CM

open: 11.718
high: 11.9549
low: 11.658
close: 11.7977

US Soft Red Winter Wheat Price Idx: ZWPAUS.CM

open: 10.8628
high: 11.0906
low: 10.8128
close: 10.9646