Growers in Kansas and Missouri, which produce more than 10 percent of the U.S. soybean crop, have planted less than half as much of the soybean land as usual for the first week in June, says the weekly Crop Progress report. Severe storms have delayed field work in the central and southern Plains. In Missouri, 30 percent of soybean land has been planted compared to the usual rate of 69 percent. In Kansas, 31 percent has been planted vs the five-year average of 76 percent. Yield potential declines as planting slips later into the growing season.
The USDA will update on Wednesday its projection of a soybean crop of 3.85 billion bushels, which would be the second-largest harvest ever. USDA projections assume normal weather and yields.