May 21, 2013
Producer Marketing Manager
Corn: As of 7:45 – July Down 13, NC Down 8
Planting Progress numbers released yesterday confirmed the torrent pace of planting last week as we sowed 43% of the nation’s corn crop last week (that is approximately 250,000 acres per hour around the clock……), putting the national number at 71% finished. This gets us within striking distance of the 5-yr average of 79%. Notable weekly improvers were IA with 56% of their corn planted, and IL put in 57% of their crop just last week! Corn exports top trade estimates of 7-11, improve to 14.6 million bushels inspected this week.
Soybeans: As of 7:45 – July Down 2, NC down 8
Bean progress is also lagging in most areas as we wrap up with corn. Nationally we are 24% complete, behind the 5 year average of 42%. SD is right at its average of 28% complete. Soybean export inspections were on the light side of expectations this week at 3.3 mbu; 2-8 expected with 6.1/week required. At this point the trade is not too worried about bean planting pace or final acreage number.
Wheat: As of 7:45 – MPLS Down 8, KC Down 9
HRW conditions dropped 1% in the Good/Excellent category this week. In our neck of the woods SD’s ratings improved by 3%, pushing it up to a dismal 8% of our crop rating Good/Excellent. HRS planting was about as expected with 67% of the crop in the ground. The big driver, ND, is showing 50% complete. Export inspections released yesterday were slightly better than expected (18-21) at 21.1; need 19.6/week. Total included 11.9 HRW and 5.2 SRW.