Not much positioning before the reports

Overnight- Corn futures are flat to lower while soybean and wheat futures are slightly higher.

There was no short covering yesterday before the most volatile report of the year and option volatility is a little cheaper overnight which is a little surprising.

Are traders looking for a muted reaction from these reports?

Analysts are looking for a slight increases for both corn and soybean acres which will be considered neutral to slightly bearish.

We hear there may be more preventing plant acres in the NW Midwest with the slow spring and lack of economic incentive to plant the crop.

Quarterly stocks could come in lower than expected with the recent lower prices spurring demand.

Weather is nonthreatening for the short term other than more rain coming to the flooded areas of Iowa and Minnesota.

China’s heat is dissipating this weekend, but Black Sea and Argentina are dry.


We are looking for some friendly news from either acres or quarterly stocks. If we do get that friendly news, we need to be ready to execute some cash sales or hedges on a good bounce. NFC Grain Comments Options -new (73)

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