The USDA has released their latest crop progress report and unfortunately there were no big surprises that are likely to change grain traders minds.
In corn planting nationally 6 percent of the 2019 corn crop has been planted. That is 1 percent ahead of where planting was a year ago, but is still more than 50 percent behind the five year average. For Nebraska, corn planting jumped 2 percent last week making it exactly where it was a year ago. With today’s larger equipment if the weather can continue to hold corn planting could quickly advance on it’s gap to the five year average.
Winter wheat conditions did little to help the market as the crop continues to improve. Nationally Winter wheat conditions rank 62 percent good to excellent. Gaining 2 percent from the previous week and 31 percent from the previous year. In Nebraska winter wheat is 69 percent good to excellent and in Kansas winter wheat is 57 percent good to excellent.
For spring wheat preventative planting is still somewhat a possibility. Nationally the spring wheat crop is 5 percent planted 17 percent behind the five year average. It is also 2 percent ahead of where spring wheat planting was a year ago.
The moisture profile is looking strong across much of the nation. Topsoil moisture is rated at 98 percent adequate to surplus in Nebraska and 90 adequate to surplus in Kansas. Iowa is 99 percent adequate to surplus for their topsoil moisture profile. Subsoil moisture looks very similar with Nebraska at 98% adequate to surplus. Kansas stands at 96 percent adequate to surplus. While Iowa subsoil moisture is strong at 100% adequate to surplus.
Clay Patton has more on the report here: https://post.futurimedia.com/krvnam/playlist/crop-progress-report-4-22-corn-and-spring-wheat-planting-6548.html
To see the whole report please visit: https://downloads.usda.library.cornell.edu/usda-esmis/files/8336h188j/7s75dm69z/2514nt82s/prog1719.pdf