Today, USDA reported that U.S. farmers had planted 75% of their corn acreage as of Sunday, May 10. This compared with 55% a week earlier and 55% last year on this date. It also compares to the 5-year average of 57% of corn acres planted.
The ag agency also reported that 29% of corn has emerged as of May 10. A year ago, 16% of acreage devoted to corn had emerged and only 9% a week earlier. Over the past 5 years, 24% of corn acres had emerged as of this date.
Farmers made good progress in planting soybeans in the last week, as well. As of Sunday, nearly one-third (31%) of soybeans were in the ground vs. 13% a week earlier and 18% a year ago. This compares to the 5-year average of 20%.