28 May 2013 23:09 [Source: ICIS news]
HOUSTON (ICIS)--The delayed 2013 season is quickly coming to a close as corn plantings have climbed to 86% nationwide, according to Tuesday’s release of the Weekly Crop progress report by the US Department of Agriculture (USDA).
US farmers fresh off a record of over 40m acres (16m ha) planted in a seven-day reporting span, gained 15 percentage points versus last week’s report. But they are still behind 2012’s optimum start to the season where 99% was planted by this same time with a measure of 90% for the five-year report average.
It appears the crop is getting under way at a favourable pace as the USDA report stated that crop emergence is at a 54% mark compared to 19% last week and 67% for the five-year span.
Nebraska with 96% planted leads the key growing states followed by Texas at 95% with Illinois at 89% while Indiana is at 86% and Iowa at 85%.
With a large percentage now up in the field, farmers have a good two to three-week window for applications of fertilizer. The question for fertilizer distributors and producers still remains whether there will be switching of crop nutrients to accommodate the plantings delays, which depending on the region was only a few days up to several weeks.
Soybean plantings increased 20 percentage points to come in at 44% of the plantings completed versus to 87% in 2012. The five-year average was reported at 61%. The report stated that 14% of the crop has emerged versus 3% the previous week and 57% in 2012 with 30% the five-year average.
Making a steady rise is cotton as the commodity saw an increase of 20 percentage points and is now reported at 59% completed versus 76% in 2012. The five-year average was reported at 69%.
On Tuesday, the grain markets took a surge forward to begin the trading week as July corn closed up 9.2 cents to end the day at $6.66 per bushel while soybeans rose .33 cents to close at $15.09 per bushel.
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