Fundamentally Speaking
Corn Planting Figures by Year
Perhaps later in the growing season, the heavy April Midwest rains will be seen as a blessing in disguise.
For now however, the market is taking the view that enough is enough is enough and many farmers are wondering when they can enter their fields.
Perhaps a more pertinent question is once a planting window opens how fast the 2013 corn crop can get in the ground.
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Keep in mind that today’s modern equipment can result in large amounts of acreage seeded per day.
This chart shows the largest amount of corn planted in a one week and then two week period for each year in the U.S. since 1980 in million acres and that two week acreage as a percent of the March Prospective Plantings corn figure.
Looking back, 1992 stands out as that year saw the largest one week seedings of 34.0 million acres and two week plantings of 49.8 million.
This two week number accounted for about 63% of the 1992 March intentions number and this 63% was seen in 1987 with 1980’s largest two week planting progress 60% of the March plantings estimate.
It is possible that a large amount of corn can be seeded within a two week period? Though the question remains, when will this happen?
The trade already assumes that progress will still be slow as of May 5 but talk is that less than half the crop will be seeded even by May 12.
Keep in mind that back in 2009, only 51% of the crop was planted by May 12, yet national yields that year attained an all-time high of 164.7 bushels per acre.
(KA)
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