Market is putting in more weather premium

Overnight- Grain and oilseed futures are higher across the board.

Some weather forecasters are bringing more rain into the next two weeks.

We have weather issues in many spots across the globe and the combination is pushing prices higher.

Will the funds keep covering shorts and possibly go long?

This will give us the best chance to get above 5.00 and 12.50 in the new crop contracts.

The CPI index came out in line with expectations this morning and so far, the stock market and bond markets have reacted positively as it takes some pressure off the higher for longer mentality on interest rates.

We don’t think that this will ramp up interest rate cuts just yet, but it could be the first signal.

China has popped up with a dry situation across 50% of its Northern Plain which will need to be monitored.

Bottomline

Planting progress this week will be key to continuing this price appreciation in the grain complex. Growers need to be diligent if they feel undersold as we get prices back over breakeven levels as we are not out of the woods of a low margin period for row croppers. NFC Grain Comments Options -new (50)