Crop Progress

I am watching the USDA Crop Progress reports. The report this Monday showed corn and soybean planting running ahead of normal. Corn planting is at 81% (up 16 percentage points from last week) and right at trade estimates; soybean planting at came in at 66% (up 16 points from last week). Spring wheat came in at 64% planted (up 24 points from last week) and 9 points behind the five-year average. Other than spring wheat, crops are off to a great start.

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