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U.S. crop progress hitting the averages | The Money Times

Money Matters - Simplified

U.S. crop progress hitting the averages

Washington -- The most recent U.S. Department of Agriculture crop report says several 2010 crops remain almost to the tick on par with their five-year historic averages.

Ninety-three percent of the nation's soybean crop is planted. Historically at this week of the year, 94 percent of the crop is planted. Eighty-seven percent of soybeans have emerged, compared with a five-year average of 88 percent.

Twenty-seven percent of the cotton crop has hit the squaring stage, on par with the crop's average progress. Nineteen percent of the sorghum crop has headed out -- one tick shy of the historic average of 20 percent.

Eight percent of the peanut crop is in the pegging stage -- right on the five-year mark. Ninety-six percent of the rice crop has emerged, one tick shy of the average of 97 percent for this time of year.

Oats break the trend -- 65 percent headed out, compared to a five-year average of 55 percent for this week of the year. Winter wheat is 17 percent harvested, six percentage points behind the average of the past five years.

Spring wheat is closer to average. Fourteen percent of the spring wheat crop has headed out, compared to an historic average of 16 percent.

Copyright 2010 United Press International, Inc. (UPI).

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