According to the USDA, corn and soybean planting progress each remained below five year average levels during the week ending May 1^st.

Corn:

Corn plantings as of the week ending May 1^st were 14% complete, finishing significantly behind last year’s pace of 42% completed and the five year average pace of 33% completed. Corn planting progress reached a nine year low seasonal level, finishing below analyst expectations of 16% completed.

The majority of corn plantings have been completed throughout the states of Louisiana, South Carolina, Georgia, Mississippi, North Carolina, Texas, Alabama, Texas, Virginia and Arkansas as of the week ending May 1^st.

Corn emergence as of the week ending May 1^st was three percent complete, finishing slightly behind last year’s pace of seven percent completed and the five year average pace of six percent completed.

Soybeans:

Soybean plantings as of the week ending May 1^st were eight percent complete, finishing behind last year’s pace of 22% completed and the five year average pace of 14% completed. Soybean planting progress finished equal to analyst expectations.

Soybean planting progress as of the week ending May 1^st was led by Louisiana, followed by Mississippi and Texas.