May 20, 2013
Producer Marketing Manager
Weather, Planting Progress, and Old Crop movement…..
Corn: As of 7:45 – Nearby Up 1, New Crop Down 1
Informa released acreage estimates on Friday for corn at 96.827 million acres, below the USDA estimates of 97.3 million acres. Their forecasted yield to be 160.9 bpa that is almost 3 bpa above USDA. Total crop size they are 14.398 vs USDA of 14.14 bln bushels. The bigger question is how much planting progress took place over the weekend? Estimates on USDA’s progress report out this afternoon has corn in the 60-65% area. Precip forecasts show enough wet weather to hamper fieldwork in the next 10 days- especially in the north. The current system will continue to slowly work east and finish up in the next 2-3 days. Heavy rains look to fall in northern growing areas of MN as well as most areas to the east of the MS River.
Soybeans: As of 7:45 – Nearby Up 1, New Crop Down 8
Informa released an updated acreage estimate. Informa’s new estimate adds 1.2 million acres, getting them up to 78.3 million acres. USDA had been carrying soybean acreage at 77.1 million acres. Soybean planting progress due out at 3:00 PM is estimated to be 20-25% complete vs. 6% last week, but well below last year’s 72% & 5-year avg. of 42%.
Wheat: As of 7:45 – Mpls steady, KC down 1
With the precip totals out of ND and forecast for more, HRS seeding should be on hold for a time. Spring wheat planting is estimated 65-70% complete vs. 43% last week, below last year’s 98% & 5-year avg. of 76%. Some sections of the HRW belt got some severe weather over the weekend but most moisture looked to be in the eastern half of KS, and northern OK.