According to USDA, 94% of corn is planted this year, which is much higher than the average of the last five years. The average planting pace of all the states is higher except for Pennsylvania, Minnesota, and North Dakota.
80% of the planted crops have grown out of which 1% are very poor, 3% are poor, 23% are fair, 61% are good, and 12% are excellent.
When talking about soybeans, 56% out of 78% of the planted crops have emerged. All the states have exceeded the pace of average planting progress. The states that lack the required pace are North Dakota and Minnesota.
The average planting progress of spring wheat has also declined considerably. About 81% of wheat has been planted, which is pretty low, compared to the five-year average of 97%. The situation with winter wheat is not quite good either. Only 5% of the crop is harvested with the condition of 23% being very poor, 17% poor, 26% good, 30% fair, and only 4% being excellent.
It appears that corn will make the most for our economy this year.