Tuesday April 21, 2020

  • Corn, beans and wheat are pressured by the ongoing crude oil disaster 
  • Planting in the U.S. set to continue as forecasts prodict a bulk of the crop will make it into the ground in the next 10 days 
  • U.S. national planting rates
    • corn at 7% complete as of Sunday – just slightly behind 5 year average pace of 9% 
    • Soybeans just getting started at 2% 
    • Spring wheat planting at 7% – behing 5 year average pace of 18% 
    • Winter wheat conditions fell this week to 57% good/excellent – down 5% from last week however still ahead of average of 50% g/e 
  • Rumblinigs starting to surface about some global weather concerns; dryness in Europe and Black Sea region as well as in Brazils second crop corn 
    • However threats to supply at this point arent going to excite the market given the demand side of things