US completes 58% of intended US corn acreage planting, 32% below five-year average

Source: By Platts • Posted: Thursday, May 30, 2019

Houston — Some 58% of the intended US corn acreage has been planted through Sunday, the Department of Agriculture said Tuesday. This level was 32 percentage points below the five-year average for this week and the year-ago planting pace.

The level of corn planted was also below the market estimate of 63%-65%.

In the major corn producing states, Iowa had 76% of its intended corn acreage planted, 19 percentage points below the year-ago pace; Illinois had 35% in the ground, 64 percentage points below the year-ago pace; Nebraska had 81%, 14 percentage points below last year’s pace; and Minnesota had 66% of the intended corn acreage planted, 25 percentage points below its year-ago pace.

North Carolina topped the planting table, with 95% of the total for the state planted. Tennessee and Texas had 93% of their state’s crop planted and Texas was up to 75%.

Emerged corn for the week that ended Sunday was running at 32% of the total intended US corn acreage, 37 percentage points below the five-year average, 13 percentage points above the prior week, and 32 percentage points below the same time last year, according to the USDA.

The surveyed 18 states accounted for 92% of the 2018 corn acreage, the report said.

The July CBOT corn futures contract settled 16 cents higher Tuesday at $4.2025/bushel, its highest level since June 6, 2018. The December CBOT corn futures contract settled at a new contract high of $4.3700/bu.

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