CME: 2010 Corn Planting Substantially Complete
US - USDA’s weekly Crop Progress report indicates that 2010 corn planting is substantially complete as of Saturday with 93 per cent of intended acres planted, write Steve Meyer and Len Steiner.That figure rivals the 2005 planting clip as of this week (95 per cent) for the fastest ever but the bulk of this year’s acres were planted earlier than those of 2005, driving high expectations for 2010 yields. As can be seen, this year’s pace is FAR AHEAD of 2009 when just over 60 per cent of corn acres had been planted by this date. While yields were record-large last year, late planting and cool summer weather negatively impacted the quality of last year’s corn crop and the performance of livestock this crop year.

Though corn planting was the fastest ever this year, corn
emergence is still lagging the best-ever pace of 2000. As of May
23, 71 per cent of corn had emerged. That compares with 30 per cent last year,
a computed 5-year average of 51 per cent and USDA’s published 5-year
average of 62 per cent. The linear increases of 16 per cent per week over the
past two weeks underscore the impact of cool, overcast, generally
rainy weather in many major corn growing regions.
The recent weather pattern has kept corn crop condition
ratings near historical levels in spite of the record planting pace.
71 per cent of corn acres were rated good or excellent this week, up from
67 per cent last week. There was no rating for corn in last year’s concurrent
week. This week’s 71 per cent good-excellent tied for fourth in the
historical data with 1994’s 78 per cent being the highest on record.

Soybean planting is progressing at a far slower pace due
to continuing wet weather in many areas. Only 15 per cent of total acres
were planted last week, bringing the season-to-date total to 53 per cent.
That compares to 48 per cent for the same week last year and a computed
average of 66 per cent over the past 5 years. 24 per cent of soybeans had
emerged as of Saturday. That number is sharply higher than last
year’s 14 per cent but lower than the computed 5-year average of 27.2 per cent.
It is safe to say that the 2010 crop is progressing well at
this point. Slower-than-average soybean planting poses little problem
— at this point in time.
DLR readers are reminded of CME Group’s webinar
regarding dried distillers’ grains (DDGs) coming up Wednesday,
May 26 at 2:00 p.m. CDT. Readers can attend the session
in-person at the Visito Center Auditorium at 141 W. Jackson St. or
tune in on the internet by registering at www.cmegroup. com/
ddgwebinar. DLR author Dr Steve Meyer will be joined by Dr Darrell Mark of the University of Nebrasks to discuss the production, characteristics
and uses of DDGs as well as the performance and costs impacts they have on livestock production.
For those who may not be familiar with DDGs — they are a primary co-product of ethanol production. Each bushel of corn that is
fermented produces roughly 2.8 gallons of ethanol, 17 pounds of DDGs and 17-19 pounds of CO2. The trade of 56 pounds of corn for 17
pounds of DDGs is not necessarily a good one for the livestock and poultry sectors but that 17 pounds of usable feed ingredients has helped
reduce diet costs from where they would have been had DDGs not been available. Since ethanol production converts the starch in corn into
ethanol and CO2, DDGs are high in protein, fiber, fat and minerals. They still have a relatively high dietary energy content but that energy
comes from fat instead of starch. Cattle and other ruminants can use the fiber and low-quality protein very efficiently. They can be added to
hog and poultry rations but their relatively low-quality protein limits their usefulness to some degree. Tune in to learn more.