Good morning,
Markets are mixed following the holiday break with corn up 2, wheat up 11 and soybeans down 2.
Weekend rain totals in Brazil were on the light side with most of the coverage either up North or West. The 1–5-day forecast does not have much rain in it, but 10-day period does. This is the same forecast we’ve been seeing for weeks.
Both corn and soybean planting in Argentina saw progress over the last week with soybean planting at 69% complete which is 11% behind the 10-year average but 8% ahead of last year. Corn planting was 59% complete, which is 12% behind the 10-year average but 7% ahead of last year.
Look for trade volume to be light this week with fewer traders during the holiday season. This could lead to more volatility if there is any bullish or bearish news.
Have a safe day!
Garry Gard
608-217-6592
