US corn planting gains as Midwest farmers work around rain

April 30 (Bloomberg) -- U.S. farmers worked around Midwest rain last week to increase corn planting, boosting expectations that they will sow the most acres since 1937 and produce a bigger harvest than year’s drought-damaged crop.

About 53 percent of the corn crop was planted as of yesterday, up from 28 percent a week earlier and 12 percent a year earlier, the U.S. Department of Agriculture said today in a report. The average for the previous five years is 27 percent, and the record for the 17th week of the year was 68 percent in 2010.

An estimated 15 percent of the plants had emerged from the ground, compared with 4 percent a year earlier, the USDA said. The average emergence for the prior five years was 6 percent.

About 12 percent of the soybean crop was planted, compared with 6 percent a week ago and the previous five-year average of 5 percent, the USDA said.

Bloomberg News

Copyright 2014 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Comments
comments powered by Disqus
Check out Futures Magazine - Polls on LockerDome on LockerDome