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Bad weather in the United States and disease in China are threatening food shortages globally and massive inflation. Our national security and stability is at stake over the next few years.
One of the biggest reasons inflation has remained so low over the past half decade is record growing seasons in the United States and Russia for #corn #wheat and #soybeans However this year is the worst season on record as cold, rainy weather delayed #plant19 by several weeks.
Planting progress for all three crops was beyond dismal this year. In fact, it was the slowest planting progress ever on record and many farmers simply chose to skip this year.
Only 67% of U.S. #corn was planted as of June 2, well below the five-year average of 96%. That is +9 points on the week and below the trade guess of 71%.
The planting pace has been RECORD slow for 2.5 weeks now. #plant19
The planting pace has been RECORD slow for 2.5 weeks now. #plant19
USA planted 8.4 million acres of #corn in the week ended May 26, but there is still almost 39 million to go. Illinois planted the most (1.2 mln acres) but they still have the most to plant (7.3 mln). South Dakota still has 4.5m to go and Indiana 4.3m. #plant19
Nebraska's final planting date for full insurance was May 25, as was most of North and South Dakota. Just the corn-heavy southeast portion of SD, as well as a couple counties in SE ND, have until May 31. All of IA, MN, WI. MO, and KS will also be at the cutoff by May 31.
Only 58% of U.S. #corn was planted as of May 26, the slowest pace on record. That is only +9 points on the week and drastically lower than the average of 90%. The trade was expecting 63%. #plant19
U.S. planting progress, May 12:
#Corn 30% (23% last week, 66% average, trade guess 35%)
#Soybeans 9% (6% last week, 29% avg, trade guess 15%)
Spring #wheat 45% (22% last week, 67% avg, trade guess 35%)
#plant19
#Corn 30% (23% last week, 66% average, trade guess 35%)
#Soybeans 9% (6% last week, 29% avg, trade guess 15%)
Spring #wheat 45% (22% last week, 67% avg, trade guess 35%)
#plant19
Notable delays, #corn:
Illinois 11% (5y avg 82%)
Indiana 6% (avg 57%)
Iowa 48% (76%)
Minn 21% (65%)
Ohio 4% (47%)
Nebraska 46% (72%)
N Dak 11% (43%)
S Dak 4% (54%)
Michigan 5% (34%)
Wisconsin 14% (46%)
Missouri 52% (87%)
#plant19
Illinois 11% (5y avg 82%)
Indiana 6% (avg 57%)
Iowa 48% (76%)
Minn 21% (65%)
Ohio 4% (47%)
Nebraska 46% (72%)
N Dak 11% (43%)
S Dak 4% (54%)
Michigan 5% (34%)
Wisconsin 14% (46%)
Missouri 52% (87%)
#plant19
Notable delays, #soybeans:
Illinois 3% (5yr avg 34%)
Indiana 2% (26%)
Iowa 13% (31%)
Arkansas 21% (53%)
Mississippi 33% (69%)
Louisiana 53% (75%)
Minnesota 3% (36%)
N Dak 5% (20%)
S Dak 0% (19%)
Wisconsin 4% (17%)
Michigan 3% (17%)
Ohio 2% (20%)
Nebraska 20% (32%)
Illinois 3% (5yr avg 34%)
Indiana 2% (26%)
Iowa 13% (31%)
Arkansas 21% (53%)
Mississippi 33% (69%)
Louisiana 53% (75%)
Minnesota 3% (36%)
N Dak 5% (20%)
S Dak 0% (19%)
Wisconsin 4% (17%)
Michigan 3% (17%)
Ohio 2% (20%)
Nebraska 20% (32%)
