According to the USDA, corn and soybean planting progress each remained below five year average levels during the week ending May 15^th. However, overall planting progress was brisk and should continue at a rapid clip in the coming week.

Corn:

Corn plantings ended the week at 49% complete exactly in line with expectations but still behind last year’s pace of 78% completed and the five year average pace of 67% completed.

Soybeans:

Soybean plantings ended the week at 30% complete just ahead of expectations but behind last year’s pace of 58% completed and the five year average pace of 39% completed.