US corn crop now 26% planted, with soybeans at 19%

HOUSTON (ICIS)–Assisted by more favourable weather conditions US farmers are advancing their spring efforts with the US Department of Agriculture (USDA) weekly crop progress report stating that 26% of the estimated corn crop has now been planted, with soybeans at 19% sowed.

The current pace of the corn crop is ahead of the 13% achieved last season but is equal to the five-year average, with 6% of the crop emerged.

Missouri is currently the leading state with 80% of its acreage completed followed by Texas at 74% and North Carolina at 70%.

For soybeans the crop is 19% completed, which is above the 7% rate achieved in 2022 and the five-year average of 11%.

Louisiana is the leading state with 59% of the crop done followed by Arkansas and Mississippi at 43%.

The current weather conditions look favourable for farmers completing even more acreage this week with fertilizer applications expected to keep pace with the ongoing plantings, which will continue to propel the recent increase seen in New Orleans (Nola) barge demand.

There are some concerns over river flooding with the USDA warning last week the sudden warmer weather is causing the heavy snowfall across the northern US to melt quickly and is now halt barge movement along the upper Mississippi River for a few weeks.

This comes just as spring demand is emerging, with this causing some to have to seek out other transportation methods besides barges with rail and trucking an option in some cases, but it most likely brings increased cost if there is even availability.

The greater concern is that a few weeks of delay on the critical waterway could be a crucial factor in eventual sowings and thereby impact overall consumption in northern markets if their nutrient supply flow is tightened.