Corn prices dipped Tuesday after the USDA released its weekly Crop Progress report showing showed planting conditions improved last week for many states.
In 18 states that totaled 92% of the 2010 corn acreage, planted acres improved from 94% on June 5 to 99% on June 12, with Pennsylvania and Ohio making the biggest progress.
But there are significant delays in emerged corn in some states compared to the 5-year average.
In Ohio, 57% of corn has emerged vs. the 97% average. Growers in Pennsylvania (68% vs. the 85%), North Dakota (74% vs. 93%) and Michigan (78% vs. 96%) also reported slower-than-average emergence rates.
Other than Texas and North Carolina, most states reported corn conditions in fair (18%), good (58%) or excellent (19%) condition.
Thunderstorms and rain were continuing to delay planting of spring wheat and corn. Spring wheat emergence was behind by about 30 percentage points in Montana and North Dakota.
Progress also improved rapidly for soybean planting in several states between June 5 and June 12, especially in Arkansas, Indiana, Michigan, Iowa, North Dakota, South Dakota, Ohio and Tennessee.
Soybean emergence is still far behind in many states vs. the 5-year average, especially in Ohio (29% vs. 83%), North Dakota (35% vs. 78%), Minnesota (67% vs. 90%) and Michigan (49% vs. 81%).
The winter wheat harvest is under way in the southern Plains and running ahead of schedule, with a historic drought wreaking havoc on crops. Recent rains likely came too late to benefit the crop, observers say.
In Texas, 78% of the winter wheat is in poor or very poor condition, along with 74% in Oklahoma and 52% in Kansas.
Grains futures traded mixed Monday on the Chicago Board of Trade.
Wheat for July delivery rose 5.25 cents to $7.645 a bushel; July corn fell 4.75 cents to $7.8225 a bushel; July oats were unchanged at $3.955 a bushel; while July soybeans fell 6 cents to $13.8125 a bushel.