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June 2021: U.S. corn crop progress

June 9, 2021 By     0 Comments

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

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

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 Ferrellgas - FGPR $12.15 N/A 10.00 20.00 (24.5%)
Suburban Propane – SPH 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

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