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USDA: Corn 50% planted, soy 11%

Agriculture.com Staff 05/12/2008 @ 2:10pm

The U.S. corn crop is slightly over half planted, according to the USDA weekly Crop Progress report released Monday.

For corn, USDA estimated 51% of the crop seeded, sharply above 27% a week ago, but way behind a 77% five-year average. USDA's estimate is near the low end of the trade's estimate of 46%-60% planted.

"Despite being towards the low end of expectations, I don't see this being that important of a number," one CBOT floor trader says. "It should help overnight trading, but I don't see it impacting Tuesday's trading."

Also, 11% of the corn crop has emerged vs 4% a week ago and a 33% five-year average.

For soybeans, 11% of the crop has been planted, compared to 5% a week ago and a 29% five-year average.

USDA rated winter wheat condition 9% excellent and 38% good. Also, 36% of the winter wheat crop is headed vs. 26% a week ago.

The U.S. spring wheat crop is estimated as 81% planted, sharply above 58% a week ago, and the 75% trade estimate. Plus, USDA estimated 25% of the spring wheat crop as emerged vs. 11% a week ago.

For cotton, USDA estimated 36% of the crop has been planted.

The U.S. corn crop is slightly over half planted, according to the USDA weekly Crop Progress report released Monday.

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