July 2022: US corn crop progress

Each month, LP Gas provides updates on the U.S. propane market, as well as the latest trends. The data for July 2022 highlights the U.S. corn crop progress.

Stock information for Ferrellgas and Suburban Propane is also provided.

PROPANE MARKET METRICS

Propane retailers preparing for the crop drying season should note the corn crop is slightly behind schedule this year due to late planting. By July 3, 7 percent of the nation’s corn acreage had reached the silking stage, 2 percentage points behind last year and 4 percentage points behind the five-year average. On July 3, 64 percent of the corn acreage was rated in good to excellent condition, 3 percentage points below the previous week but equal to the same time last year. In Iowa, the largest corn-producing state, 77 percent of the corn was rated in good to excellent condition.

Source: July 6 weekly weather and crop bulletin jointly published by NOAA, NASS and the World Agricultural Outlook Board

Source: National Agricultural Statistics Service (NASS), Crop Progress Report

STOCK WATCH

Company	12-month chart (as of July ’22)	Price (7/5/22)	Current Yield	52-Week Low	52-Week High	YTD Price Performance
Ferrellgas – FGPR		$12.25	N/A	11.85	25.34	(16.6%)
Suburban Propane – SPH		14.78	8.4%	13.83	17.75	0.9%

Source: Company data, FactSet and Wells Fargo Securities LLC (SPH); Yahoo Finance (FGPR)

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