Good progress last week

Overnight- Grains are lower across the board.

Lots of planting progress last week.

Corn is 70% planted and soybeans are 52% planted.

21% & 17% improvement from last week.

This took some premium out of the market overnight after a big up day yesterday.

We do still have 30% of the corn crop to plant with a lot of rain coming in.

We have bounced off the lows this morning with wheat holding gains so far.

The wheat market is bullish and will support the corn market.

Soybean export premiums in Brazil have squeezed higher recently and pulled the July soybeans higher.

The world weather forecasts are still supportive.

Bottomline

Planting progress was bearish, but the markets don’t seem ready to give up the ghost. If we challenge last week’s highs in corn, we may just see 5.00 corn in December. NFC Grain Comments Options -new (53)

Sign up for text alerts from NFC! Enter your mobile number to join: