Markets traded relatively steady through the overnight with corn unchanged and soybeans down 5 cents. Weather continues to be the driver of the markets here in the short run with some heavy rains expected to move through much of the Corn Belt this weekend. The weekly crop condition and planting progress report will be released this Monday and there will be a stocks and acreage report released next Friday, the 28th. Traders will be relying heavily on the upcoming reports with still so much unknown any little bit of news will give traders more insight to what yield and acreage loss will amount to. The market definitely seems to be in a wait in see mode regarding the weather and the effects it will have on the crops. Until next Fridays stock report that coincides with month and quarter end is released, I think the market won’t push prices to far one way or the other. I would recommend calling today to discuss your marketing needs and see what the best options are moving forward.
Have a great day!