Planting progress slows down

Overnight- Corn, soybeans and wheat are all lower.

The weather has slowed planting progress.

Corn was 36% planted vs 39% average.

Soybeans were 24% vs 21% average.

Planting window to open up later in the week so next week’s progress could be minimal as well. Some are getting a little nervous, but will the funds keep buying and try to go flat to net long?

Forecasts look like S Brazil will get hit with more rains and besides slowing down soybean harvest it is slowing down navigation of southern ports.

Black Sea wheat areas will see limited relief as timely rains do not exist.

Bottomline

Will the funds continue to buy on slower planting pace and weather issues in Brazil and Russia? We have had a really nice rally, and it needs to be rewarded. Do not be afraid to add some sales or get started if you have nothing sold so far. NFC Grain Comments Options -new (44)