Morning Comments May 7, 2019

Corn Emergence 2

Opening Calls:

Corn      steady to lower

Beans    1-2 lower

 

Grains are still feeling pressure from the Sunday night tweet about trade tariffs increasing this Friday. Talks are scheduled with the U.S. and China for Thursday and Friday of this week.

 

Crop Progress came out yesterday. Corn Planting is at 23% in the U.S., vs. 46% for the 5 year average, and 36% last year.

Iowa is shown at 36%, vs. 51% average and 37% last year. Illinois is estimated at 10%, Minnesota at 6% and Indiana at 3%.

U.S soybean planting is at 6%. All of these numbers are as of Sunday.

 

The 7-10 day forecast is changing and now calling for warm dry weather.