Idaho And Western United States SNOTEL Water Year (Oct 1) to Date Precipitation % of Normal (5/17)

USDA Weekly Crop Progress Report - 49% of Corn, 30% of Soybeans Planted Week Ended May 15

OMAHA (DTN) -- Farmers took advantage of a favorable weather window last week to push corn planting to near the halfway point and soybean planting past the one-quarter mark, USDA NASS said in its weekly Crop Progress report on Monday.

CORN

-- Planting progress: 49% nationwide as of Sunday, May 16, a jump of 27 percentage points from 22% the previous week. That pushed planting closer to the five-year average, but current progress is still 18 percentage points behind the average of 67%.

-- Notable states: The "I" states all made significant planting progress last week, though all are still behind average. Iowa planting jumped ahead a whopping 43 percentage points last week to reach 57% complete as of Sunday, though the state is still 23 percentage points behind the five-year average of 80%. Illinois planting also moved ahead an impressive 40 percentage points to reach 55% complete as of Sunday but is still 15 percentage points behind the five-year average of 70%. Indiana planting jumped 29 percentage points to reach 40% complete, 14 percentage points behind the average of 54%. Minnesota jumped 26 percentage points to reach 35% complete but is 37 percentage points behind the average of 72%. Wisconsin moved ahead 27 percentage points to reach 34% complete, 18 percentage points behind average. Nebraska corn was 62% planted, compared to a five-year average of 77%, and Missouri corn was 65% planted, compared to an average of 79%. Texas' crop was 87% planted, slightly ahead of the average of 84%.

-- Crop development: 14% of corn was emerged as of Sunday, up 9 percentage points from the previous week and 18 percentage points behind the five-year average of 32%.

SOYBEANS

-- Planting progress: 30% nationwide as of Sunday, up 18 percentage points from the previous week. That is 9 percentage points behind the five-year average of 39%.

-- Notable states: As with corn planting, farmers in the "I" states were able to accelerate their progress last week thanks to warmer, drier weather. Illinois' soybean planting progressed 27 percentage points to reach 38% complete as of Sunday, 7 percentage points behind average. Iowa also jumped 27 percentage points to reach 34% complete, 19 percentage points behind the average of 53%. Indiana's planting moved ahead 21 percentage points to reach 28% complete, 9 percentage points behind normal. Missouri moved ahead 12 percentage points to reach 19% complete, and Nebraska jumped 16 percentage points to reach 44% complete. Ohio moved ahead 14 percentage points to reach 18% complete.

-- Crop development: 9% of soybeans had emerged nationwide as of Sunday, 3 percentage points behind the five-year average of 12%.

WINTER WHEAT

-- Crop development progress: 48% of the winter wheat crop was headed nationwide as of Sunday, 5 percentage points behind the five-year average of 53%.

-- Notable states: Kansas' winter wheat was 60% headed as of Sunday, moving slightly ahead of the state's five-year average of 58%. Oklahoma's crop was 78% headed, 13 percentage points behind the five-year average of 91%. Nebraska's winter wheat heading jumped to 10%, near the average of 11%. Texas' crop was 86% headed, 4 percentage points behind the average of 90%. None of South Dakota's crop has headed.

-- Crop condition: Nationwide, winter wheat was rated 27% good to excellent, down 2 percentage points from 27% the previous week.

"Texas' winter wheat conditions remain at the bottom with only 5% of the crop rated good to excellent, with a huge 81% poor to very poor," said DTN Senior Analyst Dana Mantini. "Kansas is at 24% good to excellent and 41% poor to very poor."

Bureau of Reclamation, Pacific Northwest Region - Storage Reservoirs in the Upper Snake River (5/16)

 

Average daily streamflows indicated in cubic feet per second.
Reservoir levels current as of midnight on date indicated.

Upper Snake River system is at 58 % of capacity.
(Jackson Lake,Palisades, Grassy Lake,Island Park,Ririe,American Falls,LakeWalcott)
Total space available:	1701422 AF
Total storage capacity:	4045695 AF

Friday Market Watch

 LIVESTOCK:

Friday was recovering day for the lean hog and feeder cattle contracts, but the live cattle market wasn't easily persuaded into thinking the same. The live cattle market has grown concerned about the market's wavering tone of beef demand as feedlots sit with record numbers on feed and the summer low has yet to be established. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $4.89 with a weighted average of $101.47 on 2,867 head.

More: Friday Closing Livestock Market Update - Live Cattle Remain Skeptical  

GRAINS:

July corn closed down 10 1/4 cents per bushel and December corn was down 4 1/4 cents. July soybeans closed up 32 3/4 cents and November soybeans were up 17 3/4 cents. July KC wheat closed up 12 cents, July Chicago wheat was down 1 1/4 cents and July Minneapolis wheat was up 5 cents.

For the Week:

July corn was down 3 1/2 cents, December corn closed up 28 cents. July soybeans were up 24 1/2 and November closed up 27 1/2. July Chicago wheat was up 69 cents, Kansas City July was up $1.11 1/2, and Minneapolis July closed up $1.12 1/4.

DAIRY:

Milk production continues to improve across much of the country. However, temperatures in some areas have increased significantly recently, resulting in some of the milk production growth slowing as both cows and farms adjust to the rapid swing of temperatures. Milk component values this spring have been exceptionally good, primarily in the Midwest. It will be interesting to see whether this will hold or increase further. Bottling for school accounts is winding down as plants prepare for the summer slump. More milk will be made available for manufacturing, potentially allowing for inventory to increase seasonally. There is greater concern developing over demand as prices rise at the retail level. It will be determined by what consumers feel is more important for their diets. There was greater interest in dairy products during the early stages of COVID, which has carried through. The test will be during this period of inflation to see whether other products will see reduced demand while some hold strong demand or whether consumers will cut back across the board.

More: Friday Closing Dairy Market Summary - Concern Over Demand Rises

OUTSIDE MARKETS:    

The June U.S. Dollar Index is trading down 0.207 at 104.690. June gold is down $17.40 at $1,807.20, July silver is up $0.18 at $20.95 and July copper is up $0.0575 at $4.1580. June crude oil jumped $4.36, closing at $110.49 per barrel. The Dow jumped 466 points, ending at 32,197, while the NASDAQ jumped 434 points, closing at 11,805. June heating oil is up $0.0076, June RBOB is up $0.1688 and June natural gas is down $0.079.