Record Corn Plantings Over Past Week

[errolanderson]

There's a lot of horsepower out there.

Apparently, American growers planted
nearly 42 million acres of corn last
week alone. This is now at record speed.
Corn plantings are now 71% complete and
now only 8% behind the five (5) year
average as of Sunday.

This seeding pace appears to be
pressuring new crop corn to fresh
contract lows this morning.

[redbaron]

Equipment for corn planting is massive. Look at JD's
new 48 row 120 ft planter. Hardly pays starting a field
less then 640 acres.

[errolanderson]

Traders are now concerned that too much
corn was seeded at the same time placing a
large portion of the U.S. corn crop
pollinating at the hottest time of year
(late July/early August).

Appears very difficult for corn to break
below $5/bu right now. China buying and
summer weather premiums will support (IMO)