Planting Progress Wow!

Later on Tuesday afternoon the USDA released the Weekly Crop Progress Report. Remember it was a day late because of Memorial Day Monday. This is the slowest planting on record with only 58 percent of the corn planted Nation wide. It was 49 percent last week, and 90 percent last year on this date. The 5 year average would be 90 percent planted.

Bean planting is lagging too with just 29 percent of the crop planted Nation Wide. It was 19 percent last week and 74 percent last year. The 5 year average would be 66 percent planted. It seems traders are not quite sure how to play this weather market. The normal weather market is caused by hot and dry conditions. You will see big swings up and down depending on the next forecast.

Even when it does stop raining how long will it take for fields to dry enough for tillage and planting? With the calander saying June and past the date when farmers can take the Prevented Plant option will farmers still plant corn? Will the weather even allow farmers to get into the field? In just a few days farmers north of Interstate 80 will have the option of taking Prevented Plant on corn.

Will farmers take the insurance payment for Prevented Plant on corn acres or roll the dice and plant beans? Then you have the Market Facilitation payment that we know very little about other than it appears the payment will be made only on planted acres. There are so many unknowns and mother nature hold the trump card.