FC Morning Grain Market Commentary for 5/20/2013

AM Comments 05/20/13

Monday, May 20, 2013, 7:42 am
Submitted by: Dustin Weiner

Good morning!

 

Our markets were mixed to higher last night on very little news.  The strength is still coming from the nearby cash trade as the markets search for ownership.  The new crop months are under a little pressure thanks to the brisk planting pace last week and non-threatening extended weather forecasts.  The planting progress report is out this afternoon with the market expecting a nice jump in U.S. acres planted to corn.  This report could/should show corn somewhere around 65% planted across the U.S.  while soybean plantings are expected to be around 20% complete.

 

Other than that, it is pretty quiet.  The outside markets are a slightly negative input so far with crude oil and gold lower while the $US is a bit stronger
http://www.fccoop.com/markets/commentary_detail.cfm?CommentaryID=1715