Market News & Headlines >> Soybean Planting Pace Slower Than Expected
Although planting activity picked up last week, U.S. soybean planting continued to progress at a record slow pace, according to Monday afternoon’s weekly Crop Progress report from USDA.
USDA estimated that 77% of the U.S. soybean crop had been planted as of Sunday, up 17 percentage points from a week earlier, but 2 points below the average of trade estimates in a Reuters News Service survey and 16 points behind the five-year average. The U.S. planting pace was the slowest recorded in USDA data going back to 1980.
Soybean crop emergence was even farther behind normal at 55%, 29 points below the five-year average of 84%, according to USDA. The emergence rate was the lowest recorded since USDA started tracking nationwide crop emergence in 1999.
Producers in Minnesota and Nebraska had 91% of their soybean crops planted, while Iowa was 89% planted. However, In Illinois and South Dakota, only 70% of the crop had been planted, with only 64% planted in Indiana, 53% in Michigan and just 46% in Ohio.
Meanwhile, USDA data showed the corn planting season slowly drawing to a very late close. USDA estimated 92% of intended U.S. corn acres had been planted by Sunday, up 9 percentage points from a week earlier. On average, over the previous five years, U.S. corn planting was 100% complete. USDA pegged corn emergence at 79%, up from 62% a week earlier, but well behind the average pace of 97%.
Illinois corn planting progress advanced 15 percentage points to 88%; while planting was just 84% complete in Indiana and Michigan, 78% complete in S. Dakota and only 62% complete in Ohio.