According to a June 30, 2021, report from USDA, both corn and soybean planted acreage is estimated to have increased in 2021, by 2% and 5%, respectively.
Some 81% of corn was reported emerged, above both the 76% emerged last year and the 64% emerged in the week prior. The 5-year average emergence rate for this week was 70%.
According to the latest USDA Crop Progress report, some 3% of corn has emerged in the week ended April 25, in line with the 3% emerged in the same week last year but below the 5-year average of 4%.
According to the latest USDA Crop Progress report, some 2% of corn has been planted in the week ended April 4, in line with the 2% planted in the same week last year.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, Deere Director of Investor Relations Josh Beal told JP Morgan analysts that the OEM is confident it will be “producing to demand” in fiscal year 2025.