According to the most recent USDA Crop Progress report, 80% of corn in the U.S. was planted as of the week ended May 17, nearly double the 44% planted this time last year.
The most recent USDA crop progress report showed corn planting progress increase significantly over the previous week. Planting progress reached 27% planted vs. 7% in the previous week, above the five year average of 20% and the 12% planted this time last year.
Measurable snow has already fallen across a good part of the Corn Belt, Lake States and Northern Plains and with colder than usual temperatures setting in, many farmers are facing as much difficulty getting crops out of their fields as they did getting them planted this past spring.
With 7% of corn acres yet to fully mature and 97% of soybeans dropping leaves, the 2019 harvest season is well underway but still lagging compared with a year ago, according to the USDA’s Oct. 27 Crop Progress report.
As of Oct. 13, 22% of corn acres were in the bin, along with 26% of soybeans, according to USDA’s latest Crop Progress report. Condition of the crops moving to the harvest season remained essentially unchanged from the past several weeks.
Following the Oct. 7, 2019, USDA Crop Progress report, crops still remains significantly behind schedule. Additionally, corn and soybean saw some small decreases in their reported “good” and “excellent” crop conditions.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, Deere Director of Investor Relations Josh Beal told JP Morgan analysts that the OEM is confident it will be “producing to demand” in fiscal year 2025.