Corn jumps as rains seen stalling United States planting progress


No soybean plantings were reported there.

Corn planting increased to 17% as of Sunday, which topped some trade forecasts, with big gains noted in Illinois, Indiana and a few southern states. Subsoil moisture supplies rated 3 percent very short, 17 short, 78 adequate, and 2 surplus.

The most active corn contract for July delivery rose 6.25 cents, or 1.71 percent, to settle at 3.7175 dollars per bushel.

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Barley planted was 32 percent, behind 38 a year ago and average. Sixty-nine percent of the State's oat crop has been planted, over one week behind previous year but just one day behind average. The portion of the crops planted late ranged from 4 percent (2012) to 21 percent (2011) for corn and 6 percent (2012) to 43 percent (2011) for soybeans.

Winter wheat remained at 54% good to excellent condition, but the excellent rating gained one point to 9%, while good slipped one to 45%. South central Iowa is the only area with less than half the oat crop planted.

Topsoil moisture was adequate to plentiful throughout the Midwest, with Iowa reporting 99% adequate to surplus, IL 94%, IN 95% and Nebraska 73%.

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Topsoil moisture supply was rated at 6% short, 86% adequate, and 8% surplus.

"The state continued to receive some rain, with eastern counties receiving 1 to 2 in". She added another issue is making sure your cover crops are terminated in a timely manner, "We are seeing heavier pressure of fall armyworms this year".

Corn futures edged higher on support from fund short-covering and worries over a slow start to Spring planting, while Wheat declined on abundant stocks.

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USA export inspections of corn last week came in at 1.45 million tonnes. Louisiana was furthest along, at 79%, followed by Texas at 65%.