According to the USDA, corn and soybean planting progress remained ahead of five year average levels during the week ending May 30^th but each finished below average analyst expectations. The percent of corn identified to be in good or excellent condition finished significantly above average analyst expectations, however.

Corn:

Corn plantings as of the week ending May 30^th were 95% complete, finishing ahead of last year’s pace of 92% completed and the five year average pace of 87% completed. Corn planting progress finished slightly below analyst expectations of 96% completed, however.

Corn emergence as of the week ending May 30^th was 81% complete, finishing ahead of last year’s pace of 76% completed and the five year average pace of 70% completed.

An additional 17% of the total U.S. corn crop emerged during the week ending May 30^th. Weekly increases in corn emergence on a percentage basis were led by Ohio, followed by South Dakota and Washington.

76% of the current corn crop was identified to be in good or excellent condition as of the week ending May 30^th. The current corn crop identified to be in good or excellent condition was significantly larger than analyst expectations of 70%. Just four percent of the current corn crop was identified as very poor or poor.

Soybeans:

Soybean plantings as of the week ending May 30^th were 84% complete, finishing ahead of last year’s pace of 74% completed and the five year average pace of 67% completed. Soybean planting progress finished below analyst expectations of 87% completed, however.

An additional nine percent of the total U.S. soybean crop was planted during the week ending May 30^th. Weekly increases in soybean plantings on a percentage basis were led by New York, followed by Louisiana and Ohio.

Soybean emergence as of the week ending May 30^th was 62% complete, finishing ahead of last year’s pace of 50% completed and the five year average pace of 42% completed.

An additional 21% of the total U.S. soybean crop emerged during the week ending May 30^th. Weekly increases in soybean emergence on a percentage basis were led by South Dakota, followed by Minnesota and Ohio.