Shore Capital Management LLC

Due to the Memorial day holiday, the Crop Progress report was released today. Once again, the report suggests a bullish sign for soybeans and spring wheat. Corn continues to get closer to its 5 year average. This can be seen as corn has recently been caught in a 12 cent rally, while wheat and soybeans (especially soybeans) continues to rally.

Corn:
82% planted
62% last week
86% last yr
93% 5 yr average

The largest delays for corn are found in IL and IN:
IL- 62% Planted, 96% 5 yr average
IN - 55% Planted, 89% 5 yr average

Soybeans:
48% planted
25% last week
49% last yr
65% 5 yr average

The largest delays for soybeans are found in IL, IN, KY and ND:
IL- 12% Planted, 69% 5 yr average
IN - 25% Planted, 64% 5 yr average
KY - 13% Planted, 43% 5 yr average
ND - 27% Planted, 67% 5yr average

Spring Wheat:
79% planted
50% last week
97% last year
95% 5 yr average

The largest delays for wheat are found in MN and ND:
MN - 71% Planted, 96% 5 yr average
ND - 69% Planted, 94% 5 yr average

Oats:
95% planted
88% last week
97% last week
98% 5 yr average