April 28, 2015
Producer Marketing Manager
CORN: As of 7:45 – UP 1
Export inspections for last week were solid at 51 million bushels, about 10 more than needed on a weekly pace to hit the USDA export estimate for the crop year. Interesting to note that China took 2.8 million bu. Planting progress remains behind average pace on a national level. With the exception of MN and SD, most all other corn states are running behind average pace due to wet conditions. This week’s weather looks conducive for good progress.
SOYBEANS: As of 7:45 – UP 9
Soybean export inspections yesterday were at the upper end of the range at 11.5 million bushels. Notable receivers were Japan, Mexico, Middle East……no China. Soybean planting progress is at 2% nationally, just behind the 5 year average of 4……it’s early yet.
WHEAT: As of 7:45 – Steady
Wheat inspections for export were also above trade expectations, but below the number needed to hit the USDA export target. Spring wheat seedings remain well ahead of average at 55% complete. Emergence is not reflecting the rapid planting pace and is right at the 5 year average of 9%......cool, dry conditions? Winter wheat crop ratings held steady on a nationwide level yesterday. Most of the HRW crop was steady to lower (SD down 2 @ 23% Good/Excellent), while the Soft Red Wheat crop seen some improvement.
For up-to-date information on the proposed unification visit www.growingtogether.coop.