Market News & Headlines >> Record Slow Corn and Soy Planting Pace
The U.S. corn and soybean crops are going in the ground at a record slow pace as producers made less progress on planting last week than was expected with historically wet conditions continuing to limit fieldwork.
USDA reported U.S. soybean planting was just 39% complete, up 10 points from a week earlier, but 40 points below the five-year average of 79% and the lowest in USDA records going back to 1980. The soybean planting pace was at the low end of trade estimates, which averaged 42% in a range from 39%-45%.
USDA estimated U.S. corn planting was 67% complete as of Sunday, up just 9 percentage points from a week earlier and 32 points below the five-year average of 96%. The planting progress was below trade estimates, which averaged 71% in a range from 68%-76% according to a Reuters News Service survey.
USDA pegged U.S. corn emergence at just 46%, 42 points below the five-year average of 84% and easily the slowest pace on record for June 2 since USDA started tracking U.S. crop emergence in 1999, with the previous low being 74% in 2013.
USDA pegged U.S. soybean emergence at 19%, 37 points below the average pace of 56% and also easily the lowest rate since 1999, with the previous low being 39%, also in 2013.
Producers in Illinois, Indiana and Ohio continued to struggle mightily last week to get their corn crops planted. In Illinois 45% of the corn crop was planted as of Sunday, up just 10 points on the week and 53 points behind the five-year average., while Indiana was just 31% planted, up 9 points on the week and 63 points behind average. Ohio was 33% planted, up 11 points on the week and 57 points behind average. South Dakota producers got 19% of their crop in the ground last week, but were still only 44% done, 52% behind average.
In the top soybean state of Iowa, planting progress advanced 9 percentage points to 41%, 45 points behind the five-year average., but that was well ahead of Illinois, where producers were able to plant just 7% of their intended soybean acreage last week and were 21% planted, 63 points behind the average pace. Indiana planting progress at 17% was also 63 points behind average, while Ohio progress of 18% was 58 points behind and South Dakota progress at only 14% was 68 points behind average.