According to the USDA, corn and soybean planting progress each remained ahead of five year average levels during the week ending May 9^th. Corn planting progress finished consistent with analyst expectations throughout the week while soybean planting progress finished slightly ahead of analyst expectations.

Corn:

Corn plantings as of the week ending May 9^th were 67% complete, finishing ahead of last year’s pace of 65% completed and the five year average pace of 52% completed. Corn planting progress was consistent with analyst expectations.

An additional 21% of the total U.S. corn crop was planted during the week ending May 9^th. Weekly increases in corn plantings on a percentage basis were led by South Dakota, followed by Connecticut and Nebraska.

Corn emergence as of the week ending May 9^th was 20% complete, finishing slightly behind last year’s pace of 22% completed but slightly ahead of the five year average pace of 19% completed.

Soybeans:

Soybean plantings as of the week ending May 9^th were 42% complete, finishing ahead of last year’s pace of 36% completed and the five year average pace of 22% completed. Soybean planting progress finished slightly ahead of analyst expectations of 40% completed.

An additional 18% of the total U.S. soybean crop was planted during the week ending May 9^th. Weekly increases in soybean plantings on a percentage basis were led by Minnesota, followed by Nebraska and South Carolina.

Soybean emergence as of the week ending May 9^th was ten percent complete, finishing ahead of last year’s pace of six percent completed and the five year average pace of four percent completed.