On Monday, USDA reported that as of May 8 64% of U.S. corn acres had been planted. This compares with 45% the week before and 69% a year ago on this date. Corn planting so far this year is well above the 50% 5-year average.
The ag agency also said that 27% of corn acres had emerged vs. 13% on May 1 and 23% on May 8 a year earlier. This, too, is well above 5-year average of 17%.
According to USDA, 23% of soybeans were in the ground as of last Sunday. This compares with only 8% a week earlier and 26% a year ago. Soybean planting progress is also well ahead of 17% 5-year average.
