We start the new week with the markets up through the overnight of trade. Corn is up 4 cents and soybeans are up 6 cents. This week is set to be an eventful one with the release of a few reports and there is a G20 summit meeting where President Trump is expected to speak with international leaders regarding trade. Although the trade disputes are not expected to be resolved, it is very important for our markets that we don’t take any more steps back. There will be a crop progress report released this afternoon at 3 p.m. that will give us more insight to where we are with soybean planting and give an update on the condition of U.S. crops. This Friday, the USDA will release a much anticipated stocks/acreage report at 11 a.m. This report is arguably the most impactful report for this year’s crop and traders will be taking positions before and after the publication. If you are sitting on any old crop corn, I would consider selling some amount this week. With the weather returning back to more normal temperatures and the occurrence of some impactful events I wouldn’t want you to miss out on any opportunities to lock in your crop at profitable levels!
Have a great day!