Warm and dry weather in the U.S. Midwest on Wednesday will help boost corn plantings that have fallen to a record low pace, which poses a threat to production prospects, an agricultural meteorologist said.
After a cold and wet spring in most of the U.S. crop belt, farmers have seeded 28 percent of their intended corn acres, up from 12 percent a week earlier but far behind the five-year average of 65 percent, the U.S. Department of Agriculture said in a weekly report on Monday.
The planting pace for corn was the slowest for this point in the year in USDA records dating back to the 1980s, lagging 1984, when farmers had seeded 29 percent of their corn.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Mingze Wu
Latest posts by Mingze Wu (see all)
- European Bourses Not Enjoying Bullish Winds From US Stocks - 17 April 2014
- More Aggressive Stimulus Possible Despite Premier Li’s Denial - 17 April 2014
- China March FDI -1.5% Y/Y vs +2.05% expected. First decline in more than a year. - 16 April 2014