Grain Marketing Specialist
Export Inspections out this A.M. as well as Planting Progress this afternoon at 3 P.M.
Corn Down 2 ½ as of 7:45
July corn closed up 3 ¾ cents on the week after a 4 ½ cent gain on Friday at $3.9450 . December closed up 1 ½ cents after posting a 2 ½ cent gain at $3.9975. The USDA Crop Progress Report last Monday showed corn at 75% planted up 11% from the previous week and put South Dakota at 62% planted
Beans Down 9 ¾ as of 7:45
July Soybeans closed up 2 ¾ cents on Friday while November beans closed down 4 cents. July beans finished the week up 9 ¼ cents and November finished down 5 cents. USDA Crop Progress report last Monday put Soybeans planted in the US at 36% vs 23% the previous week. South Dakota was pegged at 28% completed with soybean planting.
Wheat Minneapolis Down 2 ½ Kansas City Down 3 ¼ as of 7:45
July Kansas City wheat ended down 7 cents for the week, and Minneapolis wheat ended the week down 7 ¾ cents. Abundant supplies of old crop wheat and great USDA ratings on the up and coming crop have put a cap on the wheat markets. USDA said last Monday that US Spring wheat planted was at 89% up 12% from the previous week, with 60% emerged. Winter wheat headed was set at 68%.