Grain Futures Soar on Delayed Plantings
In the latest Crop Progress report, planting progress continues at a slower than expected pace—causing concern for traders and seeing corn futures up 12 to 13 cents per bushel Tuesday morning.
The USDA reported corn plantings at 30 percent completion as of Sunday, May 12. That’s less than half of what the normal 5-year average rate is at this point in the season. It’s also only a 7 percent increase from the previous week.
Rain and cool weather in the major production areas has hindered planting activities so far this season.
Emergence is also lower than expected, currently at 10 percent. Last year at this time...
To Read Full Story Login Below.
Submit comment or question
Note: All comments are displayed with user's screen name. If screen name is not present, user's full name will be used. Please go to My Account to update your screen name.
Comment Policy: Urner Barry has made the comment feature available to encourage further discussion of our news stories. Defamatory or offensive comments, or comments deemed not relevant to the story will be removed, and if necessary, Urner Barry may restrict the right of individual subscribers to offer comments. In all cases, comments represent opinions of the poster only, and do not represent fact, news, opinions or estimates put forward by Urner Barry.
Email Address is required.
Password is required.