Slower Seeding Progress Reported in U.S.
WASHINGTON - May 6/02 - STAT -- Seeding is advancing at a slightly slower pace than average for most major spring crops grown in the United States, judging from the latest seeding progress data assembled by the USDA.
Planting of the two most important crops, corn and soybean, are several days behind last year and the previous five-year average seeding progress for the first week of May.
As of May 5,, the USDA estimates 42% of this year's corn crop has been planted and 12% has emerged. At this time last year, 52% of the crop was in the ground and 18% had emerged, while the average seeding progress for this date is 51% complete.
Though lagging last year, Ryan Law of Chicago-based Central Soya Inc. said there was weakness all day in the corn futures pit at the Chicago Board of Trade (CBOT), "stemming from planting progress made over the weekend."
Law suggested market participants are coming to the view talk of weather-related corn planting delays has been overdone. It is worth noting USDA planting progress estimates were at the top end of trade guesses of between 33% and 45% in the ground.
Soybean seeding progress is also advancing at the same pace relative to prior years. So far this year, 6% of the crop is in the ground, down from 17% at this time last year and the recent five year average of 13%. Many market participants were looking for more progress to have been made during the past weekend.
This is underscored by increased attention ie being paid to the U.S. weather forecast, which calls for abundant rainfall in the coming days. This would result in further planting delays as growers wait for fields to become dry enough to use heavy equipment.
Among the crops attracting the most attention in headlines, oat seeding started the week 59% complete in the major producing states, 10 points better than this time last year, but behind the previous five-year average seeding progress of 63%. The USDA found 30% of the oat crop has emerged, compared to 19% last year and the recent average of 33% by this time.
United States Planting Progress
(per cent in the ground)
--------------------------------------------
: Week Ending :
:-----------------------: 1997-
:May 5, :Apr 28,:May 5, : 2001
: 2002 : 2002 : 2001 : Avg.
--------------------------------------------
Corn : 42 26 54 51
Cotton : 41 26 42 31
Soybean : 6 3 17 13
Sorghum : 25 20 26 24
Spring Wheat : 38 21 33 49
Barley : 39 23 43 51
Oats : 58 44 48 63
Rice : 73 62 80 67
Peanuts : 17 6 21 18
Sugarbeets : 71 41 37 71
--------------------------------------------
United States Emergence
(per cent out of the ground)
--------------------------------------------
: Week Ending :
:-----------------------: 1997-
:May 5, :Apr 28,:May 5, : 2001
: 2002 : 2002 : 2001 : Avg.
--------------------------------------------
Corn : 12 7 18 NA
Spring Wheat : 10 4 12 21
Barley : 14 7 19 24
Oats : 30 19 19 33
Rice : 54 37 54 39
-------------------------------------------
Only active subscribers can read all of this article.
If you are a subscriber, please log into the website.
If you are not a subscriber, click here to subscribe to this edition of the STAT website and to learn more about becoming a subscriber.
