Corn went into the ground fast for 2012 with 96% of the crop planted by May 20, well ahead of the five-year average. And that early planted crop is showing 76% emerged. But the number the trade was seeking was how the weather was impacting crop condition. USDA released the first crop condition report on corn Monday, May 21 and the news is pretty good.
For the key corn states, the crop condition is overall good to excellent. With 62% of the corn reported in good condition and 15% in excellent condition. And 20% of the crop is listed as in fair condition.
Hotter, drier states are reporting higher "fair" numbers - with Indiana, Kansas, Kentucky, Missouri, Texas and Tennessee all reporting at least 26% or more of the crop in fair condition.
This is good news for a crop that went in early and has seen its share of frost, heat and bad weather. But this is just the first report and with a longer growing season comes greater opportunity for more crop impacts.
As for soybeans, 76% of the crop is now in the ground and already 35% of the crop is emerged. Both of those numbers are well ahead of the five-year average. Midwestern soybean producing states made plenty of headway on soybean planting in the last week where states like Indiana moved from 68% planted to 87% in the ground; Wisconsin gained ground moving from 16% planted to 47% planted; and Minnesota rose from 44% to 81% planted in the same period.