USDA-NASS Crop Progress report released May 31, 2016 shows 94 percent of corn acres planted. This is equal to 2015 but 2 percent ahead of the 2011-2015 average. Overall the US is wrapping up corn planting with all cornbelt states at 92 percent or better with the exception of the eastern cornbelt. Indiana, Michigan and Ohio have made major progress with planting at 86, 87, and 84 percent respectively.
The report also shows 73 percent of soybean acres planted. This is 5 percent ahead of 2015 and 7 percent ahead of the 2011-2015 average. Kansas and Missouri lag behind at 26 and 59 percent respectively. Large increases in progress were seen in the eastern cornbelt with Indiana, Michigan, and Ohio increasing 32, 36, and 41 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.
