This is a subscriber-only article
Maize planting in the US is currently around 30% complete, a recent report from the USDA has stated. This is well behind the country’s five-year average of 66%.
The top grain-producing regions across the US corn belt have been subject to heavy rains over the past number of months. This has significantly affected maize planting.
As of last Sunday, Iowa farmers had 48% of that state’s maize crop planted, compared with the five-year average of 76%. In Illinois, farmers have just 11% of their maize planted, an 82% five-year average.
Nebraska farmers have just 46% of their corn planted versus a 72% five-year average.
In its crop progress report on Monday, the USDA also stated that 9% of the US soya bean crop was planted, lagging behind the five-year average of 29%.
Swing to soya
There are fears that planting delays in the US Midwest could prompt farmers to move some acres intended for maize to soya beans, as the crop can comfortably be planted much later than maize.
On Monday, China implied it would impose higher tariffs on a range of US goods.
The USDA last week raised its forecast of US 2018-19 soya bean ending stocks by 2,721,532m tonnes, to 27,079,251m tonnes, a record high.
The figure could rise if Chinese buyers cancel cargoes of US soya beans they have bought but have not yet shipped. This, coupled with an increased swing to soya beans, could put pressure on oilseed markets.
SHARING OPTIONS: