Morning Comments April 24, 2018
Tuesday, April 24, 2018, 9:04 AM
Submitted by: Landus Cooperative
Corn steady to up 1c
Soybeans down 1 to 2 cents
Re-set CBOT price limits will go into effect April 30th. No change in corn at $0.25/bu., but soybean limits have been increased from $0.65 to $0.75/bushel. Wheat was also increased from $0.30 to $0.35/bushel. It has been awhile since any of these limits have been tested.
Yesterday was a fairly neutral trading day. Markets closed mixed, with corn contracts up 1-2 cents and soybeans down 4 to 8 cents. For nearby, corn basis improved 2 cents and soybean basis improved 3 cents. NASS reported 5% of U.S. corn crop was planted as of April 22, slightly below the 6-7% expected and a ways from the normal progress of 14% and last year’s 15%. Soybean planting was shown to be 2% complete, on track with the average but behind the 5% progress of last year.
Make sure to sit down with your Grain Marketing Advisor to ensure you are on track with your marketing plan before you get busy in the field. Offers are a great way to get your marketing done without having to continuously check prices.
Check out this week’s morning agronomy alert: https://youtu.be/UCsrj-Q6v8A