Tuesday April 30, 2024

• The USDA export inspections report showed all corn. bean and wheat shipments within the range of pre-report estimates.  The USDA report estimates are still lower then ideal historical export levels.

• Corn is running 2% ahead of pace to meet total expectations
• Bean export pace for this week is below average but running ahead of what’s needed by 4%
• Wheat is 6% ahead of the pace needed

• US Crop progress

• Corn planting at 27% this week, 5% ahead of the five year average
• Soybean planting at 18% complete, 8% ahead of average.
• Winter Wheat condition ratings at 49% Good/Excellent, in line with expectations

• Parts of the HRW belt received some much needed rain over the weekend, some areas were missed
• Russian state meteorologist is forecasting continued drought conditions in Southwestern Russia, throughout May.  Greatly affect the wheat crop.
• Labor strike at Argentina crush facilities
• A new industry coalition has been formed called the Sustainable Aviation Fuel Coalition