April 26, 2016
Grain Marketing Specialist
Contact your local Grain Marketing Specialist to have contracts rolled or priced by first notice day for May futures; Friday, April 29th.
Corn: Up 2
Marketing year high corn export shipments last week of 44.8 mbu. That was above the 41.3 needed to reach the USDA forecast. Ideas of planting delays connected to forecasts of widespread rain over most of the major producing areas the next 2 weeks. Crop progress reported corn 30% planted, up from 13% last week and well above the average.
Soybeans: Up 3
Aggressive speculative buying has returned to begin the week despite drier harvest conditions for Argentina. Still difficult to define the impact the weather has had on the Argentina soybean crop. Export shipments of 10.3 mbu vs. last week’s 9.9, and within the trade range of 7-16 but posted the smallest inspection number of the year. Crop progress has soybean planting at 3% completed, just above the average pace.
Wheat: MW Up 5, KC Down 1
Export shipments of 14.9 mbu vs. last week’s 16.8, below last year’s 20.3 and within the trade range of 9-17. Winter Wheat conditions continue to improve, Good to Excellent rating is now at 59%, up 2% from last week. Spring Wheat planting is pegged at 42% completed.