Are Planters Rolling in the Midwest?

Greetings from the extreme Midwest – I say extreme because this past weekend I saw snowflakes fall on Saturday and then on Sunday we had temperatures in the low 70s°F / 20s°C. More rain is in the 5 day forecast, but temps look to stabilize in the 50° to 60s°F/ 10° to 18°C this week.

On Monday we saw our first glimpse at USDA’s weekly Crop Progress report for corn planted acres. As expected, just a few southern states are showing any significant planter movement. Texas is 56 per cent planted, on track from year-ago figures of 54 per cent planted.

North Carolina and Tennessee are also in double-digits, at 28 and 11 per cent corn planted respectively. These numbers are well-below the same week in 2012 when North Carolina was 50 per cent planted and Tennessee was 75 per cent planted. But of course, last year spring came early and we certainly haven’t seen the warm temperatures in the central Midwest yet.

The only other states worth mentioning are Missouri and Kentucky at 8 percent and 7 percent planted respectively.

A quick look at other US spring crops, sorghum in Texas and Louisiana is in-line with 2012 plantings with both at 59 per cent planted, but Arkansas is only 6 percent planted as opposed to 75 percent planted the same week in 2012. Cotton is 35 per cent planted in Arizona and California, with California well ahead of the same week in 2012 which was at 9 percent.

As for sugarbeets, Crop Progress shows 71 per cent of are planted in Idaho. Rice shows 85 per cent planted in Texas and 81 per cent planted in Louisiana, both ahead of 2012 planting. Missouri, Mississippi, California and Arkansas range from 3 to 17 per cent planted all well behind year-ago figures.

Winter wheat conditions continue to be a concern. USDA reports the top 18 states show 5 per cent in excellent condition, 31 percent good 33 per cent fair19 per cent poor and 12 per cent very poor. Freeze damage reports in the southern SRW wheat areas and southern Plains where HRW is grown and forecasts for more freezes should support the market.

To read Jim Wyckoff’s daily market commentary, click here.

Have a great week!