Commodities Buzz: US Corn Acreage Reaches 3 percent of Intended Acreage Figure

A total of 3% of the intended US corn acreage had been planted through Sunday, the Department of Agriculture said in its weekly crop progress report after Mondays market close.

This level was 2 percentage points below the five-year average for this week and 3 percentage points below planting at the same time last year.Little progress was expected in corn planting over the past week as soil temperatures have been below the normal temperature needed, sources said.

The data showed the level of crop planted below market estimates, which were around 4%, one source said.Texas had the most crop acreage planted, with 60% of the total for the state planted. North Carolina had 30% of the states crop planted and Tennessee had 11%