Farmers and other grain market participants are on the edge of their chairs heading into the annual June planted acreage report, to be issued Tuesday morning. The June 29 crop progress report sheds a little insight into the status of this year’s crop – both acreage and crop condition.
As of Sunday, soybean planting remained behind average, at 94 percent complete against an average of 97 percent for the 18 states. The six percent still not planted equates to more than 5 million acres, based on the March intentions report. Rain is expected in parts of the Corn Belt this week, including in Missouri, the state drawing the most attention as it is only 62 percent planted and should be at 94 percent. Odds seem against that state completing soybean planting intentions. Were Missouri farmers to not get any further along, 2.144 million acres would remain unplanted. In the past 20 years, the largest change from the June plantings report to the final acreage report nationally was 1.164 million acres.
Iowa is ahead of average, at 99% (average, 98 percent) - something of a surprise given water standing in fields in some locations. But keep in mind the state numbers are based against intentions and acres added in one location may offset some lost in another. South Dakota also is ahead of average at 100 percent (average 99 percent). Nebraska farmers are 97 percent complete; they usually are finished by now.
Given final crop insurance planting dates, the 25-day “late planting” period for soybean crop insurance runs until July 5 in South Dakota and Nebraska; July 10 in Iowa and varies from July 10-25 in Kansas.
Soybean emergence is only 89 percent compared with 94 percent on average, with Missouri’s crop just 50 percent emerged and Kansas, 71 percent. Iowa’s crop is at its 96 percent average; South Dakota is four points ahead, at 98 percent; and Nebraska is seven points behind average at 92 percent.
Soybean condition worsened slightly in the week ended June 28: The crop in the 18 states now is 63 percent good/excellent, down from 65 percent, while poor/very poor rose to nine percent from eight percent.
Corn condition also slipped in USDA’s estimation, from 71 percent good/excellent a week ago to 68 percent; poor/very poor edged up from six percent to eight percent.
Remember that July 15 is your acreage reporting deadline; provide your crop insurance specialist with a copy of your 578 form after certifying at FSA. Notify your insurance specialist promptly if you have any potential crop loss.