May 8th, 2015
Grain Marketing Specialist
Corn is hovering around unchanged this morning. Thoughts are that traders will wait on the sidelines until next Tuesday’s monthly supply and demand report. 6-10 day weather outlook shows drier conditions for the Corn Belt easing planting delays.
Soybeans holding their ground this morning and continue to trade sideways. The big South American crop will continue to limit upside potential, and uncertainties of how much old crop beans that are still in the US will keep this market guessing. Trade will wait to see what will happen next Tuesday.
Wheat: 1-2 higher
Wheat prices are higher this morning as they try to recover and settle higher for the week. The wheat tour in Kansas is showing a better crop, than in 2014, but was still hurt by drought and disease. The tour issues and average yield, for Kansas, at 35.9 bushels per acre. This is 2.7 bu/A better than last year.