April 25th, 2013
Corn as of 8:00 am. 4 higher Dec. 1-2 higher
We see corn moving higher this morning. Ethanol reports yesterday had production up to 853,000 versus 832,000 last week. These numbers are keeping pace with USDA predictions. Weather forecasts still seem to be presenting an overall dry pattern for the next few weeks, but trade watching a developing system that could come through next week and delay planting more. Trade expecting little progress with next week’s planting report.
Soybeans as of 8:00 am. 10 higher Nov. 7 higher
Soybeans recovering from losses this morning on hopes of a good export report today. Fear still looms however with the bird flu situation in China. Fears of outstanding soy sales to China could be canceled. There is about 1.1 million outstanding. Bird flu now discovered in Taiwan. Taiwan livestock industry reporting major livestock financial losses. Some say worst in history.
Wheat as of 8:00 am. Spr. Wheat. 5 higher Win. Wheat. 5 higher
Wheat is also rebounding a little this morning. Winter Wheat crop tour is set to begin next week. Traders are trying to wrap their heads around this. They will be watching reports. Spring Wheat planting is dragging also.