Weather forecaster AccuWeather is projecting smaller than expected U.S. corn and soybean crops this year due to delayed planting.
AccuWeather analysts have pegged the 2019 corn crop at 14.15 billion bu, well below the USDA’s initial estimate of 14.9 billion on May 10, and also below the 2018 crop of 14.3 billion. The soybean crop is seen at 4.07 billion bu, versus the USDA’s projection of 4.17 billion and 4.54 billion a year earlier.
As of Sunday, less than half (49%) of the nationwide corn crop was in the ground, compared to 80% on average. That leaves more than half of the American corn crop to be planted after May 20, a point at which Midwest corn planting is considered “late” and yield losses are likely.
An estimated 19% of the soybean crop was planted as of Sunday, up 10 points on the week and well behind 53% last year and 47% on average.
“The next two weeks are critical for corn planting,” said AccuWeather senior meteorologist Jason Nicholls. “Most intended corn acres not planted by June 4th will likely go to soybeans or be left unplanted.
“People who planted corn May 20 could lose about 10% of their yield. But if it gets out to June 4th, they may lose about 22%. It really starts to drop off when you get to early June and corn hasn’t been planted yet.
“And some of this corn is not going to be planted until early June,” Nicholls added. “That’s a fact of life right now.”
Nicholls noted soybeans can be planted as late as mid- to late June without a big yield loss.
Source: DePutter Publishing Ltd.
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