US spring outlook may delay corn, soy planting

The National Oceanic and Atmospheric Administration (NOAA) forecasts moderate to major spring flooding along the Mississippi River, which could slow soybean and corn planting.

Above normal snowpack in the Upper Mississippi has led to the potential for major flooding over parts of the US corn and soy belt in Iowa, Missouri, and Illinois. This, paired with elevated soil moisture, means that there is a greater than 50pc probability of moderate to major flooding along the Red River in North Dakota and James River in South Dakota.

This raises the potential for a difficult US spring planting season, which begins on the third week of April and lasts until late May.

In 2019, the US delayed planting due to above average precipitation in the spring. It caused the cancellation of the planting of over 11.4mn acres of corn and 4.5mn acres of soybeans. Corn yields also decreased to 167.5 bu/acre for 2019 compared with 176.4 bu/acre in 2018.

US corn acreages are expected to rise to 91mn acres for the 2023-24 crop from 88.6mn acres a year earlier, according to the most recent US Department of Agriculture estimates. Soybean areas are forecast to remain broadly flat on the year at 87.5mn acres.

By Eduardo Gonzalez