Corn planting has been slow to take off in key areas, particularly in Iowa, Illinois and Indiana, which make up to 40% of the U.S. corn crop. Within these states only had 5% of expected acres planted. Last year at this time, 52% of acres were planted and the five-year average is 46%. Only time will tell on the full impact, but late-planted crops could get dinged on yield if it reaches beyond the critical pollination period (end of June-July) or hasn’t reached maturity in the fall before colder temperatures set in.
As the crisis in Ukraine continues and poor yields surface elsewhere due to ongoing drought, the challenges in the world supply chain are leading to more uncertainty. Nationally, a mere 7% of U.S. corn is in the ground as of April 24.
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