Morning Comments April 30, 2019

Johndeere Planting 29

Opening Calls:

Corn      Steady to 1 higher

Beans    1 to 2 higher

Wheat   3-4 lower

Oats       5-6 lower

 

The 7 to 10 day forecast is calling for cool wet weather throughout the Midwest, which should add some support to the corn and bean markets.

Iowa was catching up to the 5 year planting progress, but Illinois and Minnesota are way behind on getting corn planted.

Winter wheat ratings moved to 64% in the good to excellent category, up 8 % from last week,  highest rating since 2010.

 

CROP STAGE  /  CONDITION THIS WEEK LAST WEEK LAST YEAR 5 YEAR AVG
CORN PCT PLANTED 15 6 15 27
CORN PCT EMERGED 3   3 5
SORGHUM PCT PLANTED 20 17 26 25
SOYBEANS PCT PLANTED 3 1 5 6
WHEAT, SPRING, (EXCL DURUM) PCT PLANTED 13 5 9 33
WINTER WHEAT PCT HEADED 19 9 18 29
COTTON PCT PLANTED 11 9 12 13
WINTER WHEAT CONDITIONS GOOD + EXCELLENT 64 62 33 44