Only 58% planted on corn
Guys you’re seeing a disaster in the making. In the crop conditions report they are going to need a new category called “pathetic”. So this means 48 million acres left to plant if and when it dries up. The market has work to do now!
Re:The scale of the problem, missing production
Below is a table using the current % planted, March perspective corn acres and the 5-yr ave yields for the 18 states to calculate the size of the possible missing production in just the 18 states for which we have data. Normally at this time we would have 1.4 billion more to plant and harvest. Instead we're 6.3 billion bushel short. And that's assuming average growing conditions and yields, we already know that's not true for much of the corn that has planted., needs replanting, growing in saturated conditions or lost its nitrogen fertilizer. To possibly be 5 billion bushel short has got to be sobering for anyone who uses corn. It puts us in the same territory as 2012.
Re: Only 58% planted on corn
Sorry, everyone I meant to type 40 million unplanted not 48 million.