Good morning,
Stronger markets to start the week with corn up 15, soybeans up 24 and wheat up 22.
Grain markets are being led by wheat. Wheat futures were down about this much on Thursday, so it looks like more back and forth trading against the highs. The War wages on in the Ukraine and a belief is setting in that not many exports are going to come out of there anytime soon with planting even more than a concern. With the ports out, supplies are very limited. Even if you can get in the field, fuel is hard to come by. The Agriculture Ministry in Ukraine is saying that plantings will be down 17%, but that seems unrealistic.
The forecast for South American turned to dry in Central Brazil and wet in Argentina. Second season corn will need a couple more rains, for now there is none in the forecast. Harvest in Argentina is 19% complete for corn and 14% in soybeans. This would be ahead of normal.
The week ahead is very wet for the Central US with 3-5 inches forecast in parts of Missouri and Iowa. Most all of Ilinois will see a couple inches of rain. The Northern Plains has also turned to where North Dakota also has good chances or rain.
Have a Safe Day!
Garry Gard
920-348-6844
