A crop market report for the week ending June 7 has been released by John M. Riley, MSU Extension economist.
“Monday’s crop progress had corn planting at 91 percent complete, just 4 percent behind the five-year average,” writes Riley.
“Soybeans are still behind schedule with planting progress currently at 57 percent for the U.S. crop and 74 percentfor the Mississippi crop. That compares to five-year averages of 74 percent and 93 percentrespectively.
“July soybean futures closed up a penny on the day and continued its upward climb finishing up 18 cents on the week as planting progress remains behind normal.
“July corn finished up 3 cents at $6.66 toclose the week 4 cents higher.
“Nearby July wheat futures closed up down a penny Friday to close theweek 9 cents lower at $6.96 per bushel.Mississippi’s wheatharvest is not underway with 1 percentof the crop harvested, although progress is well behind normal. Last year at this time, 83 percentof the Mississippi wheat crop washarvested and the five-year average is near 37 percent.”
To read the entire report, see here.