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Farmers planted corn at a historic rate last week thanks to favorable weather conditions
FEATURED NEWS STORY
According to the U.S Department of Agriculture’s (USDA) latest weekly crop progress report, farmers planted corn at a record rate last week due to favorable weather conditions across most of the Midwest.
The U.S. corn crop is now 71% planted thanks to warm, dry weather across most of the Midwest last week. Leading up to last week, corn planting was significantly behind yearly averages to date. Just 28% of corn was planted across 18 states that produce the majority of the nation’s supply, much in part due to a cold, wet spring. The one-week percentage gain in seedings matched the record of 43 percentage points set in 1992.
The 71% planted still trails 2008-2012 averages (79%), but the jump was significantly more than analysts' expectations for progress of around 55%-65% according to a Wall Street Journal article. From the article, "The dramatic improvement in planting pace was a reflection of farmers planting round the clock," said Joel Karlin, market analyst with Western Milling Feed in Goshen, California.
Iowa, the nation’s leading corn producing state, now has 71% of its corn planted, up from 15% last week, which came as some surprise to Karlin. "It's a little surprising to see plantings increase that much, especially in the upper Midwest, but the advancement of technology has dramatically improved planting capabilities,” he said.
This progress report indicates farmers across the Midwest spent most of last week in the field, successful sowing corn to catch up to yearly averages.