So far this week the market does not seem to be concerned with the cooler and wetter weather causing a slower planting pace. Old crop supplies have been able to keep the markets in check as we work thru the less than desirable spring weather. I don’t look for the markets to add much premium unless we see a change in forecasts for the next couple weeks. If plantings do get delayed we could see a tightening of ending stocks in 2019 which would offer opportunity to any sellers. The US Midwest weather forecast looks to become more favorable with the end of the week looking warmer and drier.
Producers should be actively placing firm offers with their buyers for new crop sales that are hovering in the $4 range. Take advantage of the down time you have before you head to the fields to talk with your buyers to get targets set for the crop you will be planting. For most producers it is difficult to find time to make sales or put firm offers in once you are busy planting. This is also the time that we could see spikes in the market due to weather issues around the country.
Have a Safe Day!