Grain Marketing Specialist
Corn –as of 7:45 Down 2
Current US radar shows scattered rains moving into the central US with the 7 day precipitation map showing big totals. Rapid corn planting in front of rains. Next Monday progress is estimated from 48 to 60% complete. Ukraine’s exports were down in April from March 1.4mmt vs 2.6mmt.
Beans- as of 7:45 Down 5
Continued talks of the US importing beans. Will soybeans acres grow with shift from corn to beans because of weather? Brazil’s Ag Minister says Brazil production could be 89-90mmt in the upcoming year vs this year current estimate of 86mmt. Average guess on US carryout is 132.2mb for 13/14 and 299.5mb 14/15.
Wheat-as of 7:45 SW Down 5-WW Down 11
Hot/windy conditions continue to bake the southern HRW crop little rain forecast for the southern areas. Black Sea political situation isn't getting any better. Argentine Economic minister reporting that “Every last grain of surplus wheat will be exported” after meeting local needs.