Planting Progress Report
Monday afternoon the USDA NASS reported that 92 percent of the corn crop was planted. Many traders did the math and determined that as of June 16, 2019 there are still a little over 7 million acres of corn not planted. However, remember that the 92 percent planted also includes the acres that were taken as prevented plant. If a farmer had 50 percent of his corn planted and it was too wet and too late to plant corn the USDA then reports he is 100 percent planted. When will we know how many acres of corn were really planted?
On June 28, 2019 the USDA NASS will release the Acres Report. The problem is that survey is done as of June 1, 2019. This year a lot of corn was planted even in Minnesota the first week of June. Really, the Acres Report is meaningless as soon as we get it. I would argue the most accurate number would be from the Farm Service Agency after July 15, 2019!
All farmers that have enrolled in the Farm Program and purchased crop insurance must report or certify their planted acres to their FSA office by July 15, 2019. I have seen data that says around 95 percent of farmers are enrolled in the Farm Program and or purchased crop insurance. So, if NASS is kind of part of the USDA why doesn't the USDA wait until they have the most accurate planted acres numbers available?