Tuesday, May 21, 2019

With More Than Half Of U.S. Corn Still Unplanted Prices Hit One Year Highs

From FinViz:


And from AgProfessional, May 20:
Farmers have done their best since April to get the 2019 corn crop in the ground. Unfortunately, Mother Nature continues to best them. This week in their weekly Crop Progress report, USDA reported just 49% of the corn crop has been planted.

Massive delays in most of the corn belt have pushed progress 31-percentage-points behind the five-year average of 80% planted for the week of May 19. While farmers and traders alike knew progress had been made last week with several days of cooperative weather in many states, they overestimated the progress. The average trade guess in a Reuters survey was 50% planted. The estimates ranged from 42%-61%.

This is the slowest corn planting in recorded history, besting the 1995 record of 50% planted for this week.

“Today’s data indicates that 47.3 million acres of corn remained unplanted at the end of the day on May 19. Never before,” Tweeted Arlan Suderman of INTL FCStone.
Illinois is one of the states the furthest behind.
“The #2 state at 24% vs 89% normally is a BIG deal for the future of this crop,” Suderman tweeted.....

May 14 
Agriculture: Weekly USDA Crop Progress Report
From AgWeb: 
Slow Crop Progress Ignites Grain Markets 
May 7 
One of the Scariest Sentences In the English Language: Crop Progress Report Edition