Some 58% of the intended US corn acreage has been planted through Sunday, the Department of Agriculture said Tuesday. This level was 32 percentage points below the five-year average for this week and the year-ago planting pace.
The level of corn planted was also below the market estimate of 63%-65%.
In the major corn producing states, Iowa had 76% of its intended corn acreage planted, 19 percentage points below the year-ago pace; Illinois had 35% in the ground, 64 percentage points below the year-ago pace; Nebraska had 81%, 14 percentage points below last year's pace; and Minnesota had 66% of the intended corn acreage planted, 25 percentage points below its year-ago pace.
North Carolina topped the planting table, with 95% of the total for the state planted. Tennessee and Texas had 93% of their state's crop planted and Texas was up to 75%.
Emerged corn for the week that ended Sunday was running at 32% of the total intended US corn acreage, 37 percentage points below the five-year average, 13 percentage points above the prior week, and 32 percentage points below the same time last year, according to the USDA.
The surveyed 18 states accounted for 92% of the 2018 corn acreage, the report said.
The July CBOT corn futures contract settled 16 cents higher Tuesday at $4.2025/bushel, its highest level since June 6, 2018. The December CBOT corn futures contract settled at a new contract high of $4.3700/bu.
Corn is the main source of US-produced ethanol and also the main competitor for DDGS.
