Crop Progress Update – 5/9/22
According to the USDA, corn and soybean planting progress each remained below five year average levels during the week ending May 15th. However, overall planting progress was brisk and should continue at a rapid clip in the coming week.
Corn plantings ended the week at 49% complete exactly in line with expectations but still behind last year’s pace of 78% completed and the five year average pace of 67% completed.
Soybean plantings ended the week at 30% complete just ahead of expectations but behind last year’s pace of 58% completed and the five year average pace of 39% completed.