AM Comments 04/17/15
Friday, April 17, 2015, 8:04 AM
Submitted by: Dustin Weiner
It was a mixed session overnight with corn a little weaker and beans a little firmer. The markets really haven’t had a lot of fresh news to go off of lately, most of the focus has been on weather. This could be our first true “weather weekend” of the spring as we will walk into the weekend staring at rain chances forecasted for the Midwest (the system is currently moving across the Plains). If these rains end up coming as forecasted (or missing) it could be an aggressive e-CBOT opening Sunday night one way or the other.
Looking ahead to next Monday afternoon’s Planting Progress report – traders are estimating it to show somewhere between 12-14% of the corn crop in the ground (a touch below average). With corn planting off to a decent start and soybean planting firing up in the gulf states - if the weather holds, our markets could be in for a slow grind lower here in the short term.
Corn steady to 2 cents lower
Soybeans steady to 2 cents higher
Have a great day!