Morning Comments April 30, 2018
Monday, April 30, 2018, 8:04 AM
Submitted by: Landus Cooperative
Corn up 2-3
Soybeans up 5-6
Markets are higher because Brazil is not getting much needed rains. In the U.S. this week, there are forecasts for rain throughout the Midwest, which will slow planting. The Wheat Quality Council tour will start today, trade is expecting disappointing news. Wheat areas are suffering and needing rain. Traders are also waiting to hear when the U.S. and China are going to sit down to discuss trade issues.
In the world of ethanol, it was announced that Poet overtook ADM as the world’s #1 ethanol producer.
Planting progress reports will be out this afternoon and trade guessing a lot of the Midwest got caught up on planting, but still behind the average.