Wednesday May 8, 2024

  • The dollar is sneakily recovering, trade waiting to gauge actual global production losses. 
  • Wet conditions continue in the Midwest but a planting window looks possible this weekend and into early next week.
  • Statistics Canada reported all-wheat stocks at 11.8mmt as of March, down from the average 12.2mmt and 13.9mmt last year. Canadian corn stocks are down, but still comfortable. 
  • The July corn was roughly 30 cents of its lows from the 1st of the month, July soybeans up over $1 off there mid April lows, and July wheat also over $1 off its March lows.