According to USDA’s latest Crop Progress report issued today, 71% of the U.S. planted corn acres are in “good” (57%) or “excellent” (14%) condition for the 18 biggest corn producing states. This compares with 73% a week ago and 74% a year ago on this date.
At the same time, 65% of soybean acreage is reported to be in “good” (54%) or “excellent” (11%) condition, but only 90% of the soybean acreage is planted. This compares with 87% a week earlier, 95% a year ago on this date and the 5-year average of 95%. According to USDA, 84% of the soybean acres planted have emerged vs. 89% a year earlier and the 5-year average of 87%.