Morning Market Insight

Morning Market Insight



April 24, 2018
Travis Antonsen
Producer Marketing Manager
 
Enrollment deadline for the Soybean Market Base Builder program is next Monday, April 30th……contact your nearest Agtegra location or Grain Marketing Specialist for details.
 
CORN:  As of 7:45 – Down 1
Planting progress released yesterday afternoon remains behind the average pace for this time of year at 5% complete.  Last year we were 15% complete by this time.  The market doesn’t seem too concerned about the pace at this time due in part to the warmer/drier forecast and the speed at which the US farmer can put the crop in the ground.

 
SOYBEANS:  As of 7:45 – Down 1
Beans were weaker yesterday as export inspections were a bit disappointing.  Talk of Chinese meal demand waning and lowering their expected soybean import number.  China’s soybean imports from the US dropped to the lowest March total in a decade amid escalating trade tensions. Nationwide planting process was at 2%, right at the 5 year average.
 
WHEAT:  As of 7:45 – Mpls unchanged, KC Down 4
Historically, the U.S. spring wheat planting window can be fairly wide.  But at just 3% planted on April 22, the 2018 campaign is officially the slowest in nearly 20 years (maybe more).  We should be 25% planted by now. N. Dakota, Montana, and Minn. are still at 0%. HRW conditions remained at 31% of the crop rated Good/Excellent.

 

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