(Bloomberg) -- U.S. corn planting advanced at the slowest pace on record for the period ending Sunday, while soybean seeding was the slowest since 1996.
Corn planting advanced by 19 percentage points from the previous week to 49% complete, the lowest rate for this time of year in records going back to 1980, according to the USDA's Crop Progress and Conditions report on Monday. Soybean planting advanced by 10 percentage points to 19% complete; the crop usually is approaching the halfway mark at this time of the year.
Corn Map:
Illinois, the second-biggest grower, was the furthest behind in corn planting at only 24% complete, the report showed. This was 65 percentage points off its five-year average. South Dakota and Indiana were way off their marks as well at over 50 points behind schedule.
Soybean Map:
Illinois was also the state furthest behind in soybean planting at only 9% complete, 42 percentage points behind its five-year average. Iowa, the second-biggest grower, was 28 points off its mark.
All Crops:
All major U.S. crops were trailing their respective five-year progress averages last week. Spring wheat planting made a 25 percentage point jump in the week but remained 10 points behind its average. Cotton moved up 18 percentage points to 44% complete, only a point below its average.
Analysts' Expectations:
The below table shows how USDA results compare to analyst expectations from a Bloomberg survey conducted prior to the report's release.
| Indicator | USDA May 19 | Analyst Average | Estimate Range | USDA Last Wk |
|---|---|---|---|---|
| Corn Planted | 49% | 51% | 45%-61% | 30% |
| Soybeans Planted | 19% | 22% | 17%-26% | 9% |
| Spring Wheat Planted | 70% | 64% | 60%-69% | 45% |
| Winter Wheat Rating | 66% | 63% | 62%-65% | 64% |
To contact the reporter on this story: Dominic Carey in Washington D.C. at dcarey5@bloomberg.net
To contact the editors responsible for this story: Kristy Scheuble at kmckeaney@bloomberg.net, Jordan Yadoo
©2019 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
