May 5, 2014
Grain Marketing Specialist
Corn –as of 7:45 Up 3
Planting progress out at 3pm today guessing 27-29% complete versus 42% 5 yr average. This week weather should allow progress before measurable rains into next weekend 50% complete seems likely next week.
Soybeans-as of 7:45- Up 1
Talks of more soybean cargos from South America being diverted from China to the US. Brazil exports record number of beans in April 8.2 mmt vs 7.1 mmt last year. Canadian canola inventories expected to be largest ever for March 31 inventories.
Wheat-as of 7:45 SW- Up 13 WW Up 14
Ukraine tensions escalate. Once again raising fears about Black Sea exports. Weekly highs to reach the 90s for most of Kansas and Oklahoma. Canadian wheat inventories expected to be largest stocks in 20 years up 49% from last year.