Market News | Corn Planting Progress Half Normal

Apr 24, 2007 10:17 AM, Richard Brock

Monday’s USDA crop update showed U.S. corn planting progress through Sunday at only half of the five-year average level.

USDA reported U.S. planting progress of 11% versus 22% a year earlier and the five-year average of 22%. That figure was below trade expectations for progress of 13-17%.

An estimated 3% of the U.S. crop was said to have emerged, behind the five-year average of 5%.

Corn planting was lagging well behind normal in the No. 2 U.S. corn state of Illinois at 13% done, versus 29% last year and a five-year average pace of 37%.

Less than 1% of Illinois corn had emerged, versus 4% last year and an average of 6%, according to USDA.

In the top corn state of Iowa, planting progress was pegged at 8%, versus 23% last year and an average of 18%.

With soil temperatures improved after a weekend of warm weather, producers in many areas made active planting progress on Monday, but with further rains headed for the Corn Belt, planting seems certain to remain well behind normal heading into May.

Midday forecasts on Monday called for rainfall totals ranging anywhere from 1-3 in. across most of Kansas, Nebraska, Iowa, Missouri, Illinois and Indiana between Tuesday and Thursday.

Editor’s note: Richard Brock, The Corn And Soybean Digest's Marketing Editor, is president of Brock Associates, a farm market advisory firm, and publisher of The Brock Report.

To see more market perspectives, visit Brock's Web site at www.brockreport.com.

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