Progress in corn planting is still being slowed by above average rainfall across certain areas of the 18 primary producing states, according to today’s USDA weekly progress report. During the last week, 7% of the entire corn crop was planted; bringing the total planted crop at 86%. This compares to a 5 year historical average and 2010 estimate of 95% and 97% respectively. Ohio and Indiana are the biggest laggards with only 19% and 59% of their respective crop planted compared to a 5 year average of 93% and 87% respectively.

The USDA estimated corn emergence of 66% for the 2011 crop, which is below the 5 year historical average and 2010 estimate of 78% and 83% respectively. The 2011 estimate of crop conditions for the 18 primary producing states are 63% of the corn crop is in good or excellent condition, while 31% is in fair condition and 6% is in poor or very poor condition. For the same time period in 2010 76% of the corn crop was in good or excellent condition, 20% was in fair condition, and 4% was in poor or very poor condition.

The wet weather that has plagued farmers’ ability to plant corn in a timely manner has also delayed soybean planting and emergence across the country. Of the 18 primary soybean producing states, 51% of soybeans have been planted and 27% have emerged. The 5 year historical average is 71% planted and 39% emerged. For this week last year, 71% of the soybean crop had been planted and 43% had emerged.

The planting of the 2011 spring wheat crop increased 14% over the previous week to 68%, but is still considerably behind the 5 year historical average of 95%. By this time last year, 94% of the spring wheat crop had been planted. Spring wheat emergence is also behind schedule. The USDA estimated that 40% of the crop has emerged, compared to both the 5 year historical average and 2010 estimate of 81%.

There was little change in the winter wheat crop conditions. 34% of the winter wheat crop is in good or excellent condition, while 44% is in poor or very poor condition. Last year, 65% of the crop was in good or excellent condition and 9% was in poor or very poor condition. The percent of headed winter wheat for this year’s crop was at 72% this week, which is 1% less than in 2010 and 4% less than the 5 year historical average of 76% for the week.

Corn prices decreased minimally over the past week to close at $7.47 per bushel, soybeans edged higher to $13.76 per bushel, and wheat fell 2.6% to $7.82. Year-over-year, tight supplies, poor planting conditions, and a weakening dollar have caused corn, soybean, and wheat prices to increase 108, 47%, and 71% respectively.

Next week we look forward to continuing our reporting of USDA estimates of corn and soybean conditions, along with the usual planting progress.

- Colvin