On Monday, USDA reported that as of May 7 47% of U.S. corn acres had been planted. This compares to 34% a week ago and 61% a year ago. It is just slightly below the 5-year average of 52% of corn acres planted for this date.
The agency also reported that 15% of corn acres had emerged vs. 9% last week and 25% for May 7, 2016. This is also slightly below the 5-year average of 19% emerged.
Soybean planting is also making progress, with 14% of soybean acres planted as of May 7. This compares to 10% last week and 21% a year ago. It trails the 5-year average of 17%.