Cold weather in the US has delayed maize plantings across the major corn growing states. The national crop report published yesterday shows only 5% of the estimated national corn crop has been planted compared to 49% at the same time last year. Rain and snow have held up plantings.  Only 2% of the crop has emerged by the end of April compared with 14% for the same time last year and 6% for the rolling five year average. This has raised doubts as to whether the US will achieve its predicted largest crop on record for 2013.

The winter wheat crop is also in trouble with 35% of the crop recorded as in poor or very poor condition compared to only 10% last year. The national crop report also shows only 35% of the crop in good or excellent condition. Last year the comparable figure was 64% of the crop. Development is slow too with only 14% of the crop headed down from 55% last year.

Spring wheat sowings are recorded at 12% so far this year down from 70% for the same time last year.


Little wonder then that prices have increased by double digits ($/bu) for corn, soybean and wheat.

See update on 7 May