A.M. Grain Market Commentary for 4/19/2013

AM Comments 04/19/13

Friday, April 19, 2013, 8:11 am
Submitted by: Dustin Weiner

Good morning!

 

Our markets were quiet last night, trading on both sides of yesterday’s close.  Some of the weakness in corn yesterday could be attributed to some extended weather forecasts…  The 6-10 day and 8-14 day precipitation maps have turned to below normal for the Midwest (can you say… planting window?)  I attached the maps below.  FWIW – the 6-10 day temp maps still look a little cool while the 8-14 day temp maps show it warming up to a more normal temperature.

 

Other than that – it should be relatively quiet today.  Next Monday afternoon there will be another planting progress report out from the USDA.  The trade is expecting the US to come in at 6-8% planted (we are 19% planted on average at this time of year).  Any numbers above or below 6-8% and the market will adjust Monday night.

 

Opening Calls

Corn 1 to 3 cents higher

Soybeans steady to 2 cents lower

 

 

 

 

 

3-Day Rainfall History: