Grain Marketing Specialist
Ethanol numbers to be released this A.M.
Corn Down 1 as of 7:45
May corn closed out trade yesterday up 5 ¾ cents, helped by a cooler wetter forecast in the Midwest that could delay corn planting further. While the US experiences some set-backs in planting progress due to the weather, conditions in South America remain favorable with occasional moisture helping Brazils second corn crop and drier weather in Argentina helping harvest roll along.
Beans Down 3 as of 7:45
May soybeans ended the session yesterday down 6 ¾ cents. Strong world demand continues to support this bean market as we look forward to record U.S plantings this spring followed by a record U.S. and Brazilian harvest. Not to mention bean plantings being 3% above the 5 year average.
Wheat Minneapolis Up 3 and Kansas city Up 2 as of 7:45
May Minneapolis Spring wheat lead the pack yesterday tacking on 12 ¼ cents. The Kansas City May contract had a strong day as well ending the day up 10 ¼ cents. Both markets were helped out by short covering picking up due to the cold weather forecast and a weaker U.S. dollar day.