U.S. corn planting 67% complete; soybeans 42% -USDA

The U.S. Department of Agriculture (USDA) said U.S. farmers had planted 67% of their intended corn acres as of Sunday, matching the average estimate in a Reuters analyst poll.

In a report released on Monday, the USDA said corn planting progress was up from 46% a week earlier and well ahead of the five-year average of 52%.

Pre-report trade estimates from 10 analysts surveyed by Reuters for the week ended Sunday ranged from 62% to 71%.

Soybean planting was 42% complete by Sunday, the USDA said, up from 24% a week earlier. The figure was ahead of the average analyst estimate of 40% and the five-year average of 22%.

“With cooler and drier conditions for much of last week, farmers made significant planting progress and are ahead of schedule this year,” Iowa Secretary of Agriculture Mike Naig said in a statement. Iowa is the largest U.S. corn-producing state and the No. 2 soybean state.

The USDA rated 49% of the U.S. winter wheat crop in good-to-excellent condition, up 1 percentage point from the previous week, while analysts on average had expected no change.

For spring wheat, the USDA said the crop was 70% planted, ahead of both the average trade estimate of 69% and the five-year average of 51%.
Source: Reuters (Reporting by Julie Ingwersen; Editing by Peter Cooney)