Big Increase in Planting Progress Expected
- USDA’s next weekly crop progress update after today’s close likely will show corn planting moving into the final stage. The crop was 72% planted as of May 22, up from 49% a week earlier but still behind the 79% average of the previous five years.
- USDA is expected to report a big increase in planting progress. The soybean crop was 50% planted as of May 22, up from 30% a week earlier but behind the 55% five-year average.
- USDA’s crop progress report later today likely will show spring wheat planting remains well behind schedule. As of May 22, the spring wheat crop was 49% planted, well behind the five-year average of 83%.