MEMPHIS, TENN. (RFD NEWS) — New details on this year’s crops show strong planting progress, with USDA’s latest numbers indicating farmers are moving quickly on corn and soybeans.
This week’s Crop Progress Report shows 25 percent of the corn crop has been planted, ahead of the five-year average of 19 percent. USDA says 7 percent has emerged in 10 of the top-growing states. On the soybean side, 23 percent is in the ground, more than double the five-year average. Meanwhile, 19 percent of the spring wheat crop is planted, slightly behind average, and winter wheat conditions remain a concern, rated just 35 percent good to excellent.
Market analyst Brian Hoops noted strong demand for corn and improving demand for soybeans, including China’s commitment to purchase 25 million tons next year. He emphasized the importance of maximizing yield potential, as market incentives remain in place to encourage timely planting and strong production.
Hoops also pointed to ongoing weather challenges for the U.S. wheat crop, particularly in Kansas, where conditions have included extreme cold, drought, and now excessive moisture. He warned that the crop is unlikely to improve, with expectations for a smaller wheat supply as the season progresses. He added that even if additional rain arrives, overly dry ground in some areas could lead to runoff rather than meaningful moisture absorption.
Lewis Williamson with HTS Commodities joined us on Tuesday’s Market Day Report to provide further perspective on the latest numbers and what he is hearing from growers this season.
In his interview with RFD News, Williamson discussed key takeaways from the report, how geopolitical events are influencing input prices and availability, and what that could mean for the remainder of the planting season.
