Commentary

In a nutshell, on Friday, Uncle Sam provided the wheat market with a positive surprise, but not so for corn and beans, as projected production and ending stocks for both came in above trade expectations.  Markets responded accordingly, with KC wheat leading the charge to the upside, with new corn…

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Were it not for KC wheat, this would have been a pretty dreary week for bulls in the grain and soy market.  If we wrapped things up right now, for the week, July corn would have lost 13-cents, July Chicago wheat would be down 22-cents, KC up 24-cents, and bean…

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The range of estimates for this week’s export sales data were quite wide, so one would have thought it difficult to find a surprise, but beans proved otherwise.  For the week ending the 4th of May, we sold just 62,200 MT or 2.3 million bushels.  This number was down 79%…

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  Unless one wants to count slack export business, generally favorable spring weather, and a stalemate in the Black Sea Grain Agreement negotiations as market-moving news, there is not much I can pass along on the ag front this morning.  As such, we may as well kick off with the…

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U.S. farmers found a higher gear last week as planting progress was greater than the trade anticipated.  As of Sunday, corn planting is estimated to have reached 49% complete, versus 42% on average, and beans 35%, compared with the average 21%.  One of the most noteworthy states was Minnesota, where…

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