USDA-NASS Crop Progress report released May 16, 2016 shows 75 percent of corn acres planted. This is 7 percent behind 2015 but 5 percent ahead of the 2011-2015 average. Overall the US progress has slowed due to a combination of wet conditions in the Eastern cornbelt and several states nearing 100 percent complete. Progress continues slow in the Easter cornbelt with Indiana, Michigan and Ohio behind the 5 year average by 16, 17, and 20 percent respectively.
The analysis above is not intended as a trade recommendation. The analysis and forecasts are based on available public data and on the best judgment of PRX, but cannot be guaranteed to conform to future reality.
