US soybean planting progress exceeds 5-year average — Braun

US corn planting progress as of May 3 reached 51% of the planned areas (2019: 21%) compared to an average of 39% over the past five years, USDA reports.

Soybean was sown on 23% of areas, which is 18 and 12 p.p. more from the corresponding period last year and the average for the previous 5 years respectively.

Karen Braun, Global Agriculture Columnist at Thomson Reuters, wrote on Twitter that soybean sowing recovered rapidly by May 3, ahead of the previous record of 19% in 2000.

The US producers continue sowing spring wheat and as of May 5, 29% of areas under the crop (2019: 19%) were covered, compared to 43% on average for the previous 5 years.

Winter wheat crops condition on the reporting date:

• excellent — 7% of plantings (12% in the comparative period of 2019);
• good — 48% (52%);
• fair — 31% (28%);
• poor — 10% (6%).

According to the USDA report, 32% of winter wheat is in the heading phase (26% a year ago and 38% on average over 5 years).

Previously reported that US markets finished the previous week down, especially in wheat and soybean, and the beginning of this week is expected to be negative again.