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MARKET COMMENTARY

4-28-14 PM Comments

Monday, April 28, 2014, 3:04 PM
Submitted by: Jon Setterdahl


Steady to slightly higher markets today for both corn and beans, although closing prices failed to hold larger gains made early in the day.  It’s all about weather and planting progress.  Weather looks largely as expected with rain and cool temps likely to slow all fieldwork this week.  Corn planting progress out this afternoon at 19% nationally and Iowa at 15%.  Trade was looking for 20-25% national number, so this is likely supportive to prices tonight.  Saw a lot of planters rolling last Fri/Sat, especially west of I35 and south of Hwy20.  There are likely some pockets in that area where corn planting is well over 50% done.  That compared to north and east parts of the state that are essentially near zero.

 

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