The Corn Economy

Jun 2, 2023

Author: Krista Swanson

Now that corn planting is mostly in the rearview, attention turns to growing season climate conditions and what that means for corn production in 2023.   Planting Progress & Crop Conditions The USDA reports 92% of corn is thought to be planted as of May 28, 2023, a notable jump from 81% a week prior and ahead of the 84% five-year average. In most states planting progressed very quickly. In other states, where planting initially progressed more slowly, corn planting has now surpassed or nearly caught up to the five-year average.   With 72% of corn estimated to be emerged, the USDA reported 2023 corn conditions for the first time this week with 69% rated Good or Excellent (G/E) and 5% rated Poor or Very Poor (P/VP). In comparison, the first weekly corn crop condition ratings were 73% G/E with 4% P/VP in 2022, and 72% G/E with 5% P/VP in 2021. The three largest corn producing states – Iowa, Illinois, and Nebraska – all have notably lower estimated G/E as compared with the first...