Tuesday April 28, 2020

  • Markets unable to hold on to their attempt of a rebound on the overnights this morning 
  • Corn planting in the U.S. shot up 20% this week now sitting at 27% complete with excellent planting conditions in the Midwest over the last week – now ahead of the 5 year average pace of 20% planted
  • Soybean planting still early at 8% complete, still ahead of average of 4% complete
  • Spring wheat planting had a good week last week as well up to 14% complete but still trailing the average pace of 29% complete
  • Winter wheat conditions ratings slipped again this week to 54% good/excellent ; still sitting ahead of 5 year average of 51% g/e
  • Farm animals being euthanized by the thousands in the U.S. Reuters reports 
    • As COVID shuts down the meat packing industry, farmers are running out of room for their livestock and having to turn to abortions and mass euthanasia for pigs and chickens 
    • The pork industry is being hit particularly hard with roughly 700,000 pigs a week across the U.S. that cannot be processes that are being humanly euthanized due to lack of barn space
  • Department of Agriculture from the University of Illinois is seeing predictions that more than a billion gallons of ethanol production will be lost in 2020 due to COVID 19 a crippling loss to the corn industry as the American farmers are in the fields working on a 97 million acre crop