Soybean planting is progressing at a rapid pace in the US
By April 12, American farmers had planted 6% of their planned soybean acreage, exceeding market expectations and 4 percentage points higher than the five-year average for the same date, according to the Zerno On-Line agency, citing the U.S. Department of Agriculture’s National Agricultural Statistics Service (NASS).
According to a previously published forecast, soybean acreage will expand this year to 84.7 million acres (+4.3%).
Corn acreage was 5% of its planned acreage by April 12, 1 percentage point higher than the five-year average for the same date.
Spring wheat sowing rates are slightly behind the five-year average, with 6% of the planned acreage planted.
Winter wheat conditions worsened slightly last week. The share of wheat crops in excellent and good condition decreased from 35% to 34%, which is less than a year ago (47%) and less than the five-year average (43%).
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