April 10, 2017
Producer Marketing Manager
Looking ahead at this week…..USDA WASDE report is out tomorrow, April 11th. No markets on Friday in observance of Good Friday.
CORN: As of 7:45 – Up 2
Higher overnight led by soybean complex. Some delays are expected in US planting progress across much of the corn belt over the next week, limiting some fieldwork. Looking at tomorrow’s Supply/Demand Report that is due out at 11am.
SOYBEANS: As of 7:45 – Up 5
Soybean meal was the overnight leader as it was up $3.60/ton. Argentina did see some heavy precip, albeit spotty over the weekend and is hampering harvest. Corn/soybean ratio is climbing again after dropping on the March 31st planting intention report. The Nov contract is finding a little support around the $9.50 area.
WHEAT: As of 7:45 – Mpls steady, KC Down 1
Steady to lower again overnight as rain was seen across the HRW belt. Not much for news in the market. Watching precip and conditions across northern ND and into the Canadian Provinces for potential delays in HRS planting.