May 24, 2013
Producer Marketing Manager
In observance of Memorial Day, markets will be closed on Monday, May 27th.
Corn: As of 7:45 – Down 3
As the week draws to a close not much field work has been done in the Dakotas. With strong ethanol run rates and some export business going on, the old crop prices continue to test the gap we left at the end of March as shown in the chart below.
Soybeans: As of 7:45 – July Down 8, Nov Up 3
Volatile is the word…..in both the futures and cash markets. The July contract pushed 52 cents higher yesterday before quickly retreating back to opening levels. Target orders are a great way to capitalize on quick price movements in this type of environment. If you still have some old crop bushels left and have a price objective in mind, contact your nearest Wheat Grower location or Grain Marketing Specialist to get a Target order in and working for you.
Wheat: As of 7:45 - Mpls Up 2, KC Steady
Below is forecasted precip through Tuesday. Some precip for the HRW belt, but lesser amounts predicted for the western areas of KS that really need a drink.
Planting Progress and Hard Red Winter Wheat Crop conditions will be released on Tuesday afternoon.