USDA’s Crop Progress report released Monday indicates that corn planting is virtually complete with 96% of intended acres finished as of Sunday. That compares to 79% as of this date last year and a five-year average of 81%, says Steve Meyer and Len Steiner of CME Group’s Daily Livestock Report (DLR).

That completion date ties the record for this date set in 2000 and exceeds the 93% level of 2010.

As of Sunday, 76% of corn has emerged, compared to 45% last year and a five-year average of 48%. That is the second-highest percent emerged as of Week 20 on record, second only to 2000 when 84% of corn emerged by this same week.

USDA’s first estimate of crop condition for 2012 shows 77% of acres in good or excellent condition, the third-highest rating in DLR’s data.

Meanwhile, soybean planting surged as more farmers turned their attention to beans. Thirty percent of the nation’s soybeans were planted in just one week to push the total to 76%, a record for Week 20 and far above last year’s 41% and the five-year average of 42%. A total of 35% of soybeans emerged as of Sunday, compared to only 12% last year and a five-year average of 13%. Crop conditions have not been published for soybeans.

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