Monday May 5, 2025
- Grains start off the week in the red.
- Corn prices continue to decline as US planting progress advances.
- The Jobs report was released on Friday and numbers were better than expected at 177k jobs. The unemployment rate held steady. This shows that tariffs have yet to show an effect on the job market.
- Managed money increased there net short position in the corn market by 40k contracts. The Funds were net buyers in the bean market and the wheat market increased there net short positions by 30k, creating a historically large position.
- The US planting window is mostly wide open over the next two weeks. The Plains and corn belt generally dried up over the weekend as rains moved out to the south and southeast.
- Argentina saw some isolated rains in the far north to south over the weekend, rains to favour center north, slowing harvest. Brazilian rains held far north and west yesterday, action will increase in the south, slowing first crop corn and soybean harvest.