Agricultural News
Crop Progress Continues Outpacing Five-Year Averages
Mon, 14 May 2012 17:30:08 CDT
Crop progress continues to gallop along, well ahead of last year and the five-year average, according to USDA's weekly report.
Corn is 87% planted and 56% emerged, compared to 56% and 16% last year and 66% and 28% averages, respectively. The planting figure was in line with pre-report expectations, according to DTN Analyst John Sanow.
"The big five Illinois (95% vs. 65%), Indiana (93% vs. 53%), Iowa (90% vs. 79%), Minnesota (88% vs. 70%) and Nebraska (91% vs. 71%) are all running well ahead of the average pace, and should be all but wrapped up next week at this time," Sanow said. "The fast pace of planting and emergence coupled with a mostly benign weather pattern should be considered bearish."
Soybean progress is also moving along at a rapid clip. Forty-six percent of the crop is planted, compared to 17% last year and a 24% average. Pre-report expectations were for 50% of the crop to be planted, Sanow said. Sixteen percent of the nation's soybeans are emerged, compared to 3% last year and a 5% average.
"This report should be considered bearish, particularly with corn planting nearing the finish line, allowing producers to focus almost strictly on bean planting," Sanow said.
Spring wheat planting is 94% complete, compared to 33% last year and a 64% average. Sixty-eight percent of the crop is emerged, compared to 10% last year and a 32% average.
"Spring wheat planting is all but finished at 94%," Sanow said. "Minnesota and South Dakota are done while North Dakota is 94% complete. This report could be considered bearish."
Winter wheat is 72% headed compared to 50% last year and a 46% average. Winter wheat condition continues to fall, rated 14% very poor to poor this week compared to 12% last week, but as DTN Senior Analyst Darin Newsom points out, this is merely the browning effect. As the crop moves along in maturity and the green of the growing season fades, eyeball condition ratings tend to drop.
"There are no surprises here with traders more likely to pay attention to the hot, dry trend and possible damage associated with it in the Southern Plains this week," Sanow said.
Sorghum is 38% planted, compared to 30% last year and a 29% average. The national Cotton crop is now 48% planted, versus the five year average of 39%.- and the peanut crop is now just past the halfway point in being planted, 52% complete versus the average by this date of 31%.
To read the full USDA Crop Progress Report, click here.
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