Solid US Corn, Soybean Planting Progress

US corn and soybean producers made good progress in the fields this past week, with planting for both crops remaining ahead of the five-year average. 

Monday’s USDA crop progress report showed 24% of the nationwide corn crop was in the ground as of Sunday, up 12 points from a week earlier and 2 points ahead of the five-year average. However, that was still 1 point behind last year and the average pre-report trade guess.  

Meanwhile, soybean planting jumped 10 points on the week to 18% complete as of Sunday, 2 points ahead of expectations and topping last year and the five-year average at 17% and 12%, respectively. 

Producers in Iowa are moving especially fast. Corn planting in the state advanced 16 points from a week earlier to 34% done, 6 points ahead of average but still a single point behind last year. An estimated 25% of the Iowa soybean crop was in the ground, compared to 11% the previous week, 23% last year and 13% on average. 

In Illinois, corn planting gained 9 points on the week to 16% - well behind 23% last year and 26% on average. But soybean planting in the state climbed 12 points from a week earlier to 22% done, 2 points ahead of average but still 2 points behind a year earlier. 

Corn and soybean planting in Indiana both reached 10% done as of Sunday, up from 2% and 3% the previous week and compared to 13% and 10% on average.