Beans: Penny lower
Grains trading mixed this morning after a lower session yesterday, especially for soybeans. The trade is reminded of the burden of our ending stocks with no sight of China stepping in to make purchases. Looking at fundamentals in the U.S., planting will be sporadic this week and should lead to another slow progress number next Monday, but there’s still about a full month to get the bulk the country’s corn crop in the ground before major problems arise. We can probably expect a volatile market space the next few weeks and weather plays a large role in the field progress and will most likely trade accordingly.
Remember to get some offers placed for old and new crop grain to work for you while you are busy in the field! Have a good day!