Planting progress in the top 18 corn producing states progressed by 4% this past week and is only 3% behind the five year average of 98%. Farmers have done tremendous work catching up to the average due to the setback from heavy rains the last few months. With almost the entire corn crop planted at 95% and improved weather forecasts for this upcoming week, corn planting looks to be completely finished within the next couple of weeks.
As of June 9, 2013, 95% of the U.S. corn crop has been planted. Corn that has emerged was at 85%, down 7% from the five year average and down 14% from the previous year. Corn conditions were 8% of the crop in poor or very poor condition, compared to 7% last year. Corn in good or excellent condition was 63%, compared to 66% last year.
Soybeans planted were at 71%, behind the five year average of 84%. Last year at this time, 88% of soybeans had emerged, but only 48% have emerged as of June 9, 2013.
Winter wheat conditions were 42% of the crop in poor or very poor condition compared to only 17% at the same time last year. Winter wheat in good or excellent condition was 31%, compared to 53% last year. Last year at this time, 91% of winter wheat had headed, but only 82% has headed this year. Harvesting has just began this week, with 5% of the winter wheat being harvested, compared to 37% last year at this time.
Spring wheat was 87% planted, compared to the five year average of 96% planted by this time. Of the planted wheat, 71% has emerged, compared to the five year average of 89%. Spring wheat conditions were 7% of the crop in poor or very poor condition compared to 4% at the same time last year. Spring wheat in good or excellent condition was 62%, compared to 75% last year.
The July corn contract decreased 0.8% over the past week ending at $6.50 per bushel, soybean prices decreased by 1.4% over the past week ending at $15.11 per bushel, and wheat prices ended the week at $6.89 per bushel, a 2.7% decrease from last week. Year to year corn prices are up 9.8%, soybeans are up 6.1% and wheat is up 9.4%
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