FC Morning Grain Market Commentary for 5/14/2013

AM Comments 05/14/13

Tuesday, May 14, 2013, 8:18 am
Submitted by: Dustin Weiner

Good morning!

 Our markets look to be mixed today, flirting with both sides of yesterday’s close.  Crop progress yesterday afternoon showed US corn plantings at 28% complete, the slowest pace on record.  The corn market was stronger yesterday on ideas that the weather system moving in this weekend will be an active one – now expected to bring 1-3” of rain to most of the Corn Belt.  This caused the funds to be buyers yesterday which helps explain the sharp move higher.

 For today… all eyes are on the weather, wondering if the system will weaken or strengthen or speed up or slow down.  Anything to get a better handle on the amount of corn being planted.  The one thing you can count on though is that the farmers whose fields are ready to go will be going hard.  Changes in the planting window will direct the funds and as we saw yesterday the fund money can come in (and out) in a hurry.

 

5-Day Precip Map:

 

http://www.fccoop.com/markets/commentary_detail.cfm?CommentaryID=1708