Morning Comments May 30, 2019

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Opening Calls:

Corn: Up 6 cents

Soybeans: Up 6 cents

 

Grains trading higher this morning after a choppy close yesterday.  Forecasts are definitely looking drier this morning, starting out in the Northwest corn belt over the next five days and expanding into parts of the Midwest for 6-10 days.  However the market hasn’t forgotten about the soaking rains that have moved across much of the Midwest this past week.  Most sources in the trade are thinking there will still be +25 million unplanted corn acres at the beginning of next week.  Key growing states remain extremely behind for both corn and beans.  We are in a traditional weather market right now and any forecast change will move the markets.