The USDA’s National Agricultural Statistics Service said in its weekly Crop Progress Report Monday that US corn planting was 80% complete, well ahead of the 2016-2020 average of 68%.
A market analyst credited excellent planting weather for the advanced pace of corn planting and for the faster-than-normal rate of emergence, which was reported at 41% versus the five-year average of 35%.
However, a potential problem arises when the weekly Drought Monitor from the National Weather Service and the National Oceanic and Atmospheric Administration is considered, the analyst said. Dryness in Iowa, most of South Dakota, parts of Minnesota, Wisconsin, Illinois, and Michigan could expand and hurt crop development through the summer.
FAST-PACED CORN PLANTING
Not only is US corn planting ahead of the five-year average, it is ahead of last week’s 67%, although it is only slightly ahead of the 2020 pace of 78% for the same week.
Most major Corn Belt states are ahead of normal, although a few notable corn producers are a bit behind, the analyst said. Illinois, Indiana, Iowa and Nebraska are ahead of normal, but Ohio and Kansas lag.
Illinois planting was 86% complete, compared with the average of 71%, last week’s 74% and last year’s 81%. Indiana was 62% done, compared with the 54% average, last week’s 46% and last year’s 69%.
Iowa was 94% done planting corn, versus the 81% average, last week’s 86% and last year’s 95%. Nebraska was 86% complete, compared with the 77% average, last week’s 71% and last year’s 89%.
Ohio only had 39% of its corn in the ground, behind the 43% average, ahead of last week’s 27% but behind last year’s 54%. And Kansas was 67% done, compared with the 69% average, last week’s 54% and last year’s 72%.
Average emergence Monday was listed at 41%, ahead of the 35% average, ahead of last week’s 20% but slightly ahead of last year’s 40%.
All major producing states were near the average for emergence.
MOISTURE CONCERNS
At this time of year, pasture and range condition can be used as the canary for general soil conditions, the analyst said. In a couple of months, this won’t hold, but in the spring it works pretty well since pastures aren’t babied like row crops and suffer the vagaries of weather more quickly.
In Monday’s report, NASS said pasture and ranges were in good to excellent condition, similar to last week’s 24% but well behind the five-year average of 47%.
Of special note, the analyst said, were the western states, where major drought issues are prevalent.
The Drought Monitor lights up the western half of the contiguous 48 states with large areas listed as “exceptional” drought.
CATTLE, BEEF RECAP
Fed cattle traded last week at $118 to $122 per cwt on a live basis, up $1 to $3 from the previous week. Dressed-basis trading was at $189 to $192.50, up $1 to $2.50.
The USDA choice cutout Monday was up $2.68 per cwt at $319.62, while select was up $3.70 at $296.89. The choice/select spread narrowed to $22.73 from $23.75 with 51 loads of fabricated product and 34 loads of trimmings and grinds sold into the spot market.
The USDA reported Monday that basis bids for corn from livestock feeding operations in the Southern Plains were not available but Friday were unchanged at $1.05 to $1.19 a bushel. The May CBOT futures contract settled Monday at $6.52 1/2 a bushel, up $0.08 3/4.
The CME Feeder Cattle Index for the seven days ended Friday was $133.90 per cwt up $2.17. This compares with Monday’s May contract settlement of $137.92 per cwt, up $0.37.