Corn down 1 to up 1
Beans up 1 to 2 cents
Corn trading either side of unchanged this morning, while beans are up slightly. Trade talks are supposed to resume on Thursday, and the market will be keeping an eye on those in addition to the USDA Planting Intentions and Quarterly Stocks reports that will be out Friday. Analysts will not only be looking for changes in corn and soybean acres from last year, but also how the numbers compare with the estimates we’ve seen ahead of the report. Friday’s CFTC report showed funds have extended their record net short position to 261,326 contracts of corn as of March 19th.
With regard to the USDA reports that will be issued Friday at 11AM, we would encourage you to get your offers in ahead of that date/time. Whether Old Crop or New Crop, corn or beans, if there is a selling opportunity between now and then, we’d like to see you take advantage of it.
Looking at the forecast this week, the warmer temperatures should further progress us towards the start of spring field work.