USDA Crop Progress: Corn All But Complete

(FarmFutrues.com) –The 2018 corn planting season is nearly in the books, having reached 97% complete as of June 3. The soybean crop isn’t far behind, either, at 87% complete.

Corn planting advanced from 92% a week ago and remains slightly ahead of 2017’s pace and the five-year average, both at 95%. It was on target with analyst estimates, also at 97%.

Corn emergence moved from 72% the prior week to 86%. That is also trending slightly ahead of 2017’s pace of 84% and the five-year average of 83%. Colorado (72%), Ohio (79%), Pennsylvania (50%) and Wisconsin (75%) are the only major production states that aren’t at least four-fifths finished

The corn crop’s current quality is slightly lower, according to USDA, moving from 63% rated good and 16% rated excellent a week ago to 61% good and 17% excellent as of June 3. Analysts expected to see a 79% G/E rating instead of USDA’s 78%.

Seven major production states have at least 20% of their corn crops rated excellent, including Illinois (25%), Iowa (21%), Michigan (22%),

Minnesota (26%), Ohio (26%), Tennessee (20%) and Wisconsin (22%). Only two states have at least 10% of the crop rated poor and very poor, including North Carolina (10%) and Texas (14%).

Soybean planting, now 87% complete, is moderately ahead of 2017’s pace of 81% and the five-year average of 75%. Only Michigan (65%), North Carolina (54%) and Tennessee (69%) have yet to reach the 70% milestone.

Soybean emergence has reached 68% – also moderately ahead of 2017’s pace of 55% and the five-year average of 52%. The season’s first crop condition rating pegs 61% of the crop in good condition and another 14% in excellent condition. That jumped analyst expectations of seeing 71% of the crop in good-to-excellent condition.

Harvest has begun for the 2017/18 winter wheat crop, meantime, reaching a nationwide average of 5%. State-by-state, harvest is underway in Arkansas (4%), California (3%), North Carolina (3%), Oklahoma (7%) and Texas (35%). Harvest will continue to ramp up in the coming weeks, with 83% of the crop now headed. Thirty-seven percent of the crop is in good-to-excellent condition, down 1% from the prior week.

Spring wheat planting is nearly complete, reaching 97%. That’s slightly behind 2017’s pace of 99% but slightly ahead of the five-year average of 94%. Eighty-one percent of the crop is emerged, with 70% in good-to-excellent condition – just below average analyst expectations of 71%.