USDA-NASS Crop Progress report released May 23, 2016 shows 86 percent of corn acres planted. This is 4 percent behind 2015 but 1 percent ahead of the 2011-2015 average. Overall the US progress has continued at a similar pace to last week. Progress accelerated in the Easter cornbelt with Indiana, Michigan and Ohio increasing by 17, 31, and 17 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.
