by Cheri Zagurski, DTN Managing Editor
and
Anthony Greder, DTN News Editor
OMAHA (DTN) — Corn planting progress has been leading our coverage of USDA’s weekly Crop Progress report this growing season, but today the wheat numbers caught our eye.
There has been some discussion in the newsroom about the possibility for a greater amount of second-crop soybeans being planted this year following a ahead-of-schedule winter wheat crop. USDA seems to back up at least the fact that winter wheat is early, reporting 29{fd15d42d1b024b97d6d50958be27cc8145b6addb99e015780abccf2984117bb0} of the crop headed as of April 15. That compares to a five-year average of 8{fd15d42d1b024b97d6d50958be27cc8145b6addb99e015780abccf2984117bb0} and 11{fd15d42d1b024b97d6d50958be27cc8145b6addb99e015780abccf2984117bb0} last year.
Winter wheat condition continues to improve, with 64{fd15d42d1b024b97d6d50958be27cc8145b6addb99e015780abccf2984117bb0} of the crop rated good to excellent, compared to 61{fd15d42d1b024b97d6d50958be27cc8145b6addb99e015780abccf2984117bb0} last week and 36{fd15d42d1b024b97d6d50958be27cc8145b6addb99e015780abccf2984117bb0} last year.
“With global stocks already cumbersome, this report will do the market no favors,” said DTN Analyst John Sanow.
Corn planting continues to chug right along, with the largest percentage of the crop put in the ground this past week of the season so far. Plantings as of April 15 were reported at 17{fd15d42d1b024b97d6d50958be27cc8145b6addb99e015780abccf2984117bb0}, compared to 7{fd15d42d1b024b97d6d50958be27cc8145b6addb99e015780abccf2984117bb0} last week and a 5{fd15d42d1b024b97d6d50958be27cc8145b6addb99e015780abccf2984117bb0} average.
“This report should be considered neutral, coming in even with the average pre-report estimate,” Sanow said.
Sorghum planting increased by two percentage points to 18{fd15d42d1b024b97d6d50958be27cc8145b6addb99e015780abccf2984117bb0}, compared to 16{fd15d42d1b024b97d6d50958be27cc8145b6addb99e015780abccf2984117bb0} last week and an 18{fd15d42d1b024b97d6d50958be27cc8145b6addb99e015780abccf2984117bb0} average. Barley planting was reported at 33{fd15d42d1b024b97d6d50958be27cc8145b6addb99e015780abccf2984117bb0}, compared to a 17{fd15d42d1b024b97d6d50958be27cc8145b6addb99e015780abccf2984117bb0} average. Barley emergence came in at 5{fd15d42d1b024b97d6d50958be27cc8145b6addb99e015780abccf2984117bb0}, compared to a 3{fd15d42d1b024b97d6d50958be27cc8145b6addb99e015780abccf2984117bb0} average. Oats planting was reported at 76{fd15d42d1b024b97d6d50958be27cc8145b6addb99e015780abccf2984117bb0} complete, compared to a 48{fd15d42d1b024b97d6d50958be27cc8145b6addb99e015780abccf2984117bb0} average. Oat emergence was 51{fd15d42d1b024b97d6d50958be27cc8145b6addb99e015780abccf2984117bb0} compared to 37{fd15d42d1b024b97d6d50958be27cc8145b6addb99e015780abccf2984117bb0} average.
Spring wheat plantings were reported at 37{fd15d42d1b024b97d6d50958be27cc8145b6addb99e015780abccf2984117bb0} compared to 21{fd15d42d1b024b97d6d50958be27cc8145b6addb99e015780abccf2984117bb0} last week and 9{fd15d42d1b024b97d6d50958be27cc8145b6addb99e015780abccf2984117bb0} on average. Spring wheat emergence was 10{fd15d42d1b024b97d6d50958be27cc8145b6addb99e015780abccf2984117bb0} compared to 1{fd15d42d1b024b97d6d50958be27cc8145b6addb99e015780abccf2984117bb0} average.
“This fast pace could limit buying enthusiasm in the new-crop market,” Sanow said, “though another blast of freezing temperatures this week could cause damage to emerging plants, making this report neutral.”
Cotton is 13{fd15d42d1b024b97d6d50958be27cc8145b6addb99e015780abccf2984117bb0} planted, compared to 9{fd15d42d1b024b97d6d50958be27cc8145b6addb99e015780abccf2984117bb0} last week, 8{fd15d42d1b024b97d6d50958be27cc8145b6addb99e015780abccf2984117bb0} last year and 9{fd15d42d1b024b97d6d50958be27cc8145b6addb99e015780abccf2984117bb0} on average. Rice planting was 56{fd15d42d1b024b97d6d50958be27cc8145b6addb99e015780abccf2984117bb0} complete, compared to 37{fd15d42d1b024b97d6d50958be27cc8145b6addb99e015780abccf2984117bb0} last week and a 29{fd15d42d1b024b97d6d50958be27cc8145b6addb99e015780abccf2984117bb0} average.
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Posted with DTN Permission by Haylie Shipp
