U.S. Corn Plantings Keep Pace With Averages

Corn market could react negatively to progress

DES MOINES, Iowa — On Monday, the USDA reports that the 2016 U.S. corn crop is going into the ground at the same pace as the five-year average. Meanwhile, the U.S. winter wheat crop conditions decline.

In its weekly Crop Progress Report, the USDA noted that 4% of the corn has been planted, equal to a 4% five-year average and ahead of last year’s 1% at this same time.

Specifically, the states of Missouri and Kansas show real progress vs. their averages. Missouri has 24% of its corn planted vs. a 10% five-year average, while Kansas farmers are 17% complete, compared with a 7% five-year average.

USDA reports that Illinois corn is 2% planted vs. a 6% five-year average.

Al Kluis, Kluis Commodities, says that today’s report included a corn planting rating close to what he expected. “With the wet weather the last four weeks, this was not a big surprise."

The number was about 2% higher than the trade’s expectations, so it will be negative for tonight’s markets.

"The real market mover will be next week when the report is likely to fall even further behind,” Kluis says.

In a recent Agriculture.com poll of farmers and other website visitors, over half of the 928 participants expect to complete spring fieldwork on time or late. For instance, 28% expect a late start, 27% on-time, 15% see an early start, and 15% of the voters were already in the field.

The U.S. winter wheat crop is rated 56% good/excellent, dropping from a 59% rating a week ago.

Also, in this week’s Crop Progress Report, sorghum seedings are 15% complete vs. a 17% five-year average.

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