Soybean: Sowing Progress Is Slowing Year on Year

Washington, May 24: The U.S. Department of Agriculture’s weekly national crop progress report released after the bell on Monday showed that soybean planting in the U.S. this year still lags behind the average pace of previous years but is higher than expected. In the 18 states that account for 96% of the country’s soybean acreage, the U.S. soybean planting progress was 50% as of Sunday, May 15, 30% last week, 73% a year earlier, and a five-year average of 55%. Before the report, analysts expected soybean planting to be 49 percent complete. In the Midwest, soybean planting progress in Illinois is 62%, 38% last week, 79% last year, and 57% five-year average; Indiana, 50%, 28% last week, 66% last year, and 53% five-year average. Iowa 69%, 34% last week, 88% a year earlier, and a five-year average of 67%. Sowing progress is slow.

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