About 81% of intended US corn acreage planted, above market estimates: sources


A total of 81% of the intended US corn acreage had been planted, through Sunday, the Department of Agriculture said in its weekly crop progress report after Monday's market close.

This level was the same as the five-year average for the same week and just 1 percentage point below the planting level at the same time in 2017.

The level of crop planted was above market estimates of around 80%, one source said.

Illinois, Missouri and North Carolina had the most crop acreage planted, with 96% of the total for the states planted.

Iowa -- the main US corn producer -- had a significant rise to 86% from 65% last week, USDA data showed.

In other main US corn producers, Nebraska had 88% of the state's crop planted and Minnesota had just 77%.

Emerged corn for the week ended May 20 was at 50% of the total intended US corn acreage, 3 percentage points above the five-year average, 22 percentage points above prior week, and 1 percentage point below the same time last year, according to the USDA.

The 18 states surveyed accounted for 92% of the 2017 corn acreage, the report said.

The July CBOT corn futures contract settled 0.25 cent higher Monday at $4.0275/bushel.

Corn is the main source of US-produced ethanol and also the main competitor for distiller's dried grains with solubles.


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