Grain Marketing Specialist
Corn: As of 7:45- 1 lower
Weather is seen to be front and center for the time being as we push through planting season. The main highlights seem to be the balance of swift planting pace in the Dakota’s, Iowa and Minnesota last week vs. wet cool conditions in the east and south. Planting progress this afternoon expected to be around 43% complete below the 5-yr. average of 52%. Most of that progress made the west. 5-day forecast looks to have some showers but nothing significant then moving into the 6-10 day showing more normal conditions to below normal in the east. Stay tuned….
Soybeans: As of 7:45- 3 lower
The week ended on a positive note as there was the first export sale reported we’ve seen in a while. 132,000 for the marketing year. July soybeans ended the week nearly 17c higher. Planting pace will be watched as many will ponder any deviation from planting intentions. Current nc corn/bean ratio is 2.49.
Wheat: As of 7:45- 1 lower
Damage to the HRW crop in Western Kansas will continue to be debated as there we determine how much damage was done by the cold and snow fall. Spring wheat planting progress expected to increase significantly this last week into the weekend. For now we look to be in wait and see mode with momentum indicators giving no clear direction.