US corn and soybean planting slowed this past week amid wetter Midwest weather.
Monday’s USDA crop progress report showed nationwide corn planting at 36% complete as of Sunday, up 9 points from the previous week, while soybean planting gained 7 points to 25% done. With the slower progress, corn planting has now fallen 3 points behind the five-year average and lags last year’s pace by 6 points. Soybean planting is still 4 points ahead of average but has now fallen 5 points behind last year.
Traders and analysts were expecting better for both corn and soybean planting, with pre-report expectations at 41% complete for corn and 29% for soybeans.
Meanwhile, fieldwork is likely to remain slow, with frequent bouts of precipitation expected over the next 10 days across most US crop areas. Generally cooler temperatures are also expected to limit any drying.
In the No. 1 production state of Iowa, corn planting advanced 8 points on the week to reach 47% complete as of Sunday, 6 points behind the average, while Illinois planting gained 7 points to 32% done, versus 41% on average. Planting in Indiana jumped 12 points to 20% complete, although still 4 points behind the state average.
At 16% done, Michigan corn planting advanced 12 points on the week, well ahead of 5% last year and 3 points ahead of the state average. Ohio planting was up a hefty 20 points on the week to 26% complete, compared to 11% last year and 12% on average. North Dakota planting was 4 points ahead of the state average at 11% complete as of Sunday.
As for soybeans, planting in Illinois reached 31% complete as of Sunday, up just 5 points from a week earlier – 1 point ahead of average but far behind 58% last year. Iowa soy planting gained just 5 points as well, reaching 30% done and lagging the average by 2 points. Indiana was 20% done, up 12 points on the week and 2 points better than average.
Planting in Michigan and Ohio was 13% and 20% complete, respectively, as of Sunday, both up from 7% a week earlier and compared to 15% and 10% on average. At 3% complete, soybean planting in North Dakota was 1 point ahead of the state average.
Across the country, 12% of the corn crop had emerged as of Sunday, up from 7% a week earlier, 10% last year and 3 points ahead of average.
The soybean crop was reported at 9% emerged as of Sunday, 2 points ahead of last year and 5 points better than average.
