The U.S. Department of Agriculture’s latest “Crop Progress” report released Tuesday afternoon revealed that a mere 58% of this year’s corn crop was in the ground as of May 26, up from 49% the prior week but down from the five-year average of 90%. If the trend for late-planted corn continues, prices may force demand rationing.
Corn emergence was at a mere 32% as of May 26, down from the 69% five-year average. Soybean plantings were reported at 29%, compared to the five-year average of 66%. Read more