Farmers Making Slow Progress this Spring

UNDATED -- The latest reports show famers are making progress this spring, while prices continue to surge.

The latest Crop Progress Report from the U.S. Department of Agriculture shows good progress in the last week, but the spring planting still remains far behind average.

Corn planting:

• 82% planted.
• 40% emerged.

Soybean planting:

• 55% planted.
• 20% emerged.

Wheat planting:

• 53% planted.
• 10% emerged.

Range and pasture condition:

• 3% very poor.
• 10% poor.
• 32% Fair.
• 47% good.
• 8% excellent.

Topsoil moisture:

• 70% adequate.
• 28% surplus.

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Adding insult to injury, farmers are working in expensive dirt. The first-quarter conditions survey from the Federal Reserve Bank in Minneapolis shows cropland values and cash rents have surged in the first quarter of 2022.

Average land values (MN, MT, ND, SD, WI):

• Nonirrigated Cropland Values: up 23%.
• Irrigated Cropland Prices: up 26%.
• Ranchland Prices: 18%.

Average Cash Rental Rates:

• Nonirrigated Land: Up 17%.
• Irrigated Land: up 16%.
• Ranchland: Up 17%.

For the latest Crop Progress Report, click here:

For the First-Quarter 2022 Agricultural Conditions Survey, click here