Good morning!
Our markets are lower this morning on an improved moisture outlook for parts of the corn belt vs. yesterday’s forecast – especially in the West along with cooler temps. With the rallies we have seen the past few days it is also not overly surprising that we are seeing a setback.
If anything is going to trade higher today – it could be soybeans. There are areas of the belt that have cut their wheat and are waiting for moisture to plant double crop beans (southern Indiana & Kentucky for example) some of the farmers in that area have planted beans once already and the beans have been sitting in dry dirt, not germinating. They will likely be replanting those as soon as the weather allows (likely deeper the next time, hunting for moisture). We need every acre we can find and as the double crop plantings get delayed – yield on those acres will drag.
Currently
Corn down 6 to 10c
Soybeans mixed – up 2c to down 2c
No comments:
Post a Comment