April 25th 2014
Drew Johnson
Grain Marketing Specialist

It’s Arbor Day!

Reminder: May options expire TODAY! If you have any minimum price contracts with a May strike price get in contact with you local Marketing Specialist, or you local elevator to discuss your options.

Corn
As of 7:45am May. 4 higher, Dec. 4 higher

The corn market is higher this morning. Export numbers yesterday came in right where they were supposed to. The Trade is more focused on planting and weather forecasts. There are some rain chances through the weekend. The 6-14 day forecast is cool and dry which should provide some catch up. Trade is predicting that next Monday’s planting progress report will still be behind the yearly average.

Soybeans
As of 7:45am May. 8 higher, Nov. 1 higher

Soybeans managed to close higher yesterday and that momentum has carried over to today. Trade may be looking for more news in regards to South American exports, US imports and Chinese cancelations. South American harvest is progressing as weather forecasts, down there, are seen as favorable. Rumors circulating that China may cancel 1.2 million tons of US and South American soybeans.  

Wheat
As of 7:45am Spr. Wheat 6 higher    Win. Wheat 8 higher
Wheat pushing higher as the drought in the western belt continues to get worse. Wheat tour starts next week. Trade continuing to watch the Ukraine/Russian crisis.