June 2021: U.S. corn crop progress

Each month, LP Gas provides updates on the U.S. propane market, as well as the latest trends. The data for June 2021 focuses on 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 that the corn crop is ahead of schedule compared to recent years. By May 30, producers had planted 95 percent of the nation’s corn, three percentage points ahead of last year and eight points ahead of the five-year average. Eighty-one percent of the nation’s corn acreage had emerged by May 30, five percentage points ahead of the previous year and 11 points ahead of average.

Source: June 2 weekly weather and crop bulletin jointly published by NOAA, NASS and the World Agricultural Outlook Board

Click to enlarge. (Source: National Agricultural Statistics Service (NASS), Crop Progress Report)

STOCK WATCH

Company	12-month chart (as of May ’21)	Price (5/21/21)	Current Yield	52-Week Low	52-Week High	YTD Price Performance
Ferrellgas – FGPR		$12.15	N/A	10.00	20.00	(24.5%)
Suburban Propane – SPH		14.75	8.1%	12.50	18.18	(0.7%)

Source: Company data, FactSet and Wells Fargo Securities LLC 

Note: Ferrellgas was relisted as FGPR, trading on OTC Markets, on 4/5/2021 due to corporate action.

Featured photo: MicroStockHub/iStock / Getty Images Plus/Getty Images