US Planting Update + SLOW US Crush Expansion

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🌽🌱 US Agriculture Weekly Update: Corn and Soybean Planting, Wheat Conditions, and Market Shifts 📈🌧️
Welcome back to our detailed update on the latest in US agriculture, from crop planting progress to shifting market dynamics!
🌽 Corn and Soybean Planting Progress:
Corn planting has slightly surpassed the average pace with 83% of the crop planted nationally, a notable increase from 70% the previous week. Key states like Iowa and Nebraska are leading with at least 85% of their corn crop in the ground. Soybean planting is also ahead, with 68% completed nationally compared to 52% last week. This is above the average pace, showcasing effective planting efforts across major soybean-producing states. For state-specific details, see the attached charts.
🌾 Winter and Spring Wheat Conditions:
US winter wheat ratings have experienced a slight dip, now at 48% good-excellent, with deteriorations noted in states like Kansas and Colorado. Meanwhile, spring wheat planting is advancing well, with 88% of the crop planted, surpassing the average. This suggests a resilient start to the wheat growing season despite some regional challenges. Updated charts are available below.
🌧️ Weather Impact on Crop Growth:
Rain is expected to return to the western Corn Belt and US Plains later this week, which could affect recently planted crops with potential delays in fieldwork. The forecast predicts extensive coverage, particularly in eastern Nebraska and western Iowa. An extended wet pattern is anticipated, which could impact crop conditions moving forward. For a detailed weather outlook, refer to the maps linked below.
🌍 International Trade Developments:
Argentina is set to commence corn shipments to China in July, marking a significant step in international agricultural trade, particularly as China moves to import GMO corn variants for animal feed. This development follows years of negotiations and could impact global corn markets.
🚢 US Corn and Soybean Shipments:
Recent USDA reports indicate a decline in US corn shipments, contrasting with an increase in wheat shipments, highlighting fluctuating global demand. Soybean shipments have shown a slight increase from last week but remain down year-over-year. Detailed shipment data can be found in the USDA reports linked below.
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