Morning Comments June 18, 2019

Agronomy Early Corn

Opening Calls:

Corn down 7 cents

Soybeans down 4 cents

Good morning!

This morning grain is trading down with corn down seven and soybeans down four cents. 

Yesterday we saw another crop progress released that showed corn planting progress moved from 83% planted last week to 92% planted this week. This number is still behind the five year average of 100% planted. Soybeans moved from 60% planted last week to 77% this week. This number is still behind the five year average of 93% planted. With acres still left unplanted and being this far into the June calendar month, many believe this is the final amount of acres that will be planted. This leaves around 9 million acres unplanted which could potentially shift the U.S corn carryout number. Along with the planting and crop conditions reports the markets continue to trend upwards as cold and wet weather continues to be forecasted throughout the Midwest for the next ten days.