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The eyes of the global grain market are firmly on the US, as farmers continue to struggle with planting this year.
Incessant rain across much of the midwestern states have made for poor planting conditions, which has staggered planting progress.
Estimation
Each week, the USDA releases its estimation on planting progress and crop conditions.
In its most recent report (3 June), US farmers appear to have made some planting progress in the previous week.
As of Monday last, the USDA estimates that maize planting is now 67% complete, well behind the 96% five-year average for the same time of year.
This is an increase of 9% on the same time last week. This leaves an estimated 31 million acres of maize remaining to be planted.
Of the crops which have been planted, 46% have now emerged compared with the five-year average of 85%.
However, it remains unclear as to how much of this acreage will have to replanted.
Soya beans
Soya bean planting has also been slow, currently at 39% versus a 79% five-year average.
Emergence so far is at around 19% compared with the five-year average of 56%.
Interestingly though, spring wheat progress is on time, with planting currently at around 93% completion, just 3% under the five-year average.
However, the spring wheat acreage in the US is small.
Emergence has been slow, at around 69%, compared with a five-year average of 84%.
Read the full report here.
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