** 6:30 AM CST CBOT Prices: May soybeans are down 4.50 cents at $9.63, May corn is down 1.25 cents at $3.58 while May Chi wheat is down 1.75 cents at $4.0075. ** AgResource AM Grain & Oilseed Comment: Good Morning! Mostly lower has been the CBOT overnight correcting a portion of Monday’s gain. The…
Heavy rains, severe weather and extreme temperature the next 10 days across the U.S.
US and European wheat futures opened the week mostly lower. Russian cash fob offers, too, fell a bit amid sluggish old crop demand, and as new crop discounts remain rather steep ($10-12/MT). We also mention that isolated showers will impact Spain & parts of France through the week ahead. However, spring planting progress remains slow…
Corn futures rallied 1-2 cents despite weaker crude and late rally in the dollar. The US forecast beyond the next few days is rather wet, with concern over flooding in the SW Midwest intact, but mostly recent stability is a function of speculators already holding a massive net short position. Producers have seeded 17%…
Flood Concerns Persist This Weekend; Wet Weather Forecast Through May 10th: NOAA’s QPF this evening maintains soaking rainfall of 4-6” through the next 7 days, the bulk of which will fall Fri-Mon, but also worrisome is that a lasing period of wet weather is likely. Week 1 (top) and week 2 precip is at left,…
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