Grain Express 6/01/22
Posted: June 1, 2022, 8:13 a.m.
Corn (July)
Fundamentals: Yesterday’s weekly Crop Progress report showed the U.S. corn crop is 86% planted, in line with estimates and just 1% behind the average pace. The big laggard is North Dakota, where just 56% of the crop is planted. Last year at this time they were 92% planted. 61% of the U.S. crop is emerged. Weekly export inspections came in at 1,390,851. This compares to 1,752,461 last week and 2,104,363 last year.
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Soybeans (July)
Fundamentals: Yesterday’s weekly crop progress report showed the U.S. soybean crop is 66% planted, in line with estimates and just 1% behind the average pace. As with corn, the big laggard is North Dakota, where just 23% of the crop is planted, well below last year’s pace of 86% at this time. 33% of the U.S. crop is emerged. Weekly export inspections came in at 378,262 metric tons, below the 581,067 we saw last week.
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Wheat (July)
Fundamentals:Yesterday’s weekly crop progress report showed the U.S. spring wheat crop is 73% planted, 6% more than estimates, but still 19% behind the average pace. 42% of the crop is emerged. Good/Excellent conditions for winter wheat are at 29%, in line with estimates and 1% better than last week.
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