U.S. corn plantings are in the homestretch, and more than half of U.S. soybeans are in the ground, according to USDA’s report from earlier today.
As of May 24, 92% of corn acres had been planted. This compares to 85% a week ago and 86% a year ago. Over the past 5 years, the average for this date is 88%.
USDA also reported that 74% of corn had emerged vs. 56% for both last week and last year on this date. The 5-year average is 62%.
The ag agency also gave its crop condition report for corn and reports that 74% is in “good” or “excellent” condition; 23% is in “fair” and 3% in “poor” condition.
Nearly two-thirds (61%) of soybeans are in the ground. This compares with 45% a week earlier and 55% a year and 55% over the past 5 years.
About one-third (32%) of soybeans have emerged compared with just 13% last week and 23% last year at this time. It’s well ahead of the 5-year average of 25%.