U.S. soybean planting progress surged last week, while corn planting neared completion as producers made good progress across the key Midwest growing belt amid mostly dry weather. Warm weather also boosted new-crop emergence.

Soybean planting progress jumped to 46% as of Sunday up from 24% a week earlier and the five-year average of 24% for May 13, while soybean emergence reached 16%, up from 7% a week earlier and the average pace of only 5%, according to Monday afternoon’s USDA weekly USDA crop progress update.

USDA pegged corn planting at 87% complete as of Sunday, up from 71% a week earlier and the five-year average of 66%. An estimated 56% of the corn crop was said to be emerged, up from 32% a week earlier and double the average pace.

U.S. soybean planting is progressing at the second-fastest rate on record according to USDA data going back to 1979 – on par with 2004 and behind only 2000 when 54% of the crop had been planted by May 13. Soybean emergence trails only 2000, when 18% of the crop was emerged, in data going back to 2009.

Corn planting progress and emergence also trails only the year 2000, when 89% of the crop had been planted by May 13 and 62% had emerged.

USDA still has not issued national corn crop ratings. The crop in the No. 2 growing state of Illinois was rated 74% good/excellent as of Sunday, down from 78% a week earlier, while the Indiana crop was rated 78% good/excellent.

The average height of Illinois corn was 5 inches. Normally the state office of the National Agricultural Statistics Service has not even started reporting corn height in mid-May.

Weather should remain favorable for corn and soybean planting and development through this week and next week, keeping pressure on futures prices.

Above-normal temperatures and dry conditions should prevail into next week and Monday’s National Weather Service 6- to 10-day calls for above-normal rainfall to move into the heart of the western Corn Belt. The eastern Corn Belt will need more rainfall by late May, however, to maintain favorable crop conditions.