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Corn Down 2 as of 7:45
May corn closed the day out Monday up 2 ¼ cents and December closed up 1 ¼ cents. Export inspections released yesterday morning were strong at 57.2 million bushels. Also out yesterday was the USDA Crop Progress report which put US corn plantings at 17% which is still behind 11% from last years pace at this time . South Dakota plantings were reported at 3% vs 5% last year. We could see corn planting get further behind as the Corn Belt has a wet looking 1-5 day forecast.
Beans Down 4 ½ as of 7:45
May beans closed the day in the green up 10 ¼ cents on the day, November beans closed up 8 cents, helped by a decent export inspection number and a weaker dollar day. Export inspections out early Monday said 23.3 million bushels of beans were inspected for export, up from the previous week but the 4th lowest of the marketing year. We saw our first round of Crop Progress for beans late yesterday. US bean plantings were pegged at 6%, vs 3% last year at this time.
Wheat Minneapolis Down 1 and Kansas city Unchanged as of 7:45
May Minneapolis Spring wheat closed the day down a nickel, and Kansas City Winter Wheat closed down 2 ¾ cents on Monday. Wheat export inspections came back yesterday at 22.5 million bushels, a strong number. Yesterdays Crop Progress Report put US spring wheat planting at 22% a 9% increase from last week but 18% behind last years pace. South Dakota Spring wheat planted increased 23% to 75% planted with 32% emerged. U.S. Winter Wheat conditions were pegged at 54% good to excellent with South Dakota posting a 56% good to excellent rating.