Planting activity for the nation's principal row crops continues to advance, according to the latest USDA weekly Crop Progress update. Corn planting is reported 38% complete - the same rate recorded in the comparable period last year and 4% ahead of the recent average. Corn emergence is documented at 13%, an increase of 3 percentage points from a year earlier and 4 points above the recent average.
Soybean fields are moving faster. Planting of soybeans has reached 33% completion, which is 5 percentage points ahead of last year and 10 points above the recent average. Soybean emergence also stands at 13%, up 7 points year over year and 8 points above the recent average.
Industry supply estimates through the fifth week of planting show divergent acreage trends. Baird's figures indicate corn acres are running slightly behind the prior year, while soybean acreage is tracking more than 20% above the prior year benchmark.
Weather patterns this week are expected to be mixed across key production states. Forecasts call for generally light rain across much of the corn and soybean belt, while Iowa, Wisconsin, and Michigan are projected to remain dry. Heavier rainfall is anticipated in Missouri, Tennessee, and Kentucky. Planting in Tennessee and Kentucky is reported to be nearing completion.
Market prices have responded alongside planting progress. December 2026 corn futures recently touched $5.00 per bushel, with nearby cash-level prices near $4.70 per bushel - the highest in over a year. May and July 2027 corn contracts are trading just below $5.35 per bushel. Soybean prices have rallied above $12 per bushel.
Costs for key inputs remain elevated. Fertilizer and diesel prices are described as high, a condition the report links to persistent tensions in the Middle East. Looking ahead, the May WASDE report will publish initial production, yield, and price estimates for the 2026-27 season, providing the first formal government outlook for the coming marketing year.
Data notes - Planting and emergence percentages are drawn from the USDA weekly Crop Progress report. Acreage tracking through week five is based on Baird estimates. Price references reflect recent futures and cash levels cited in the report.