Please remember that we are closed this Friday in observance of Good Friday.
Most sense that this weekend's snows were the last of the season and now it's time to get serious about field work and planting corn. Mother Nature may be getting a little more merciful as the Heartland is expected to be a little warmer and drier than normal. Do we get the crop in on time as the usual time is April 20 to May 10? It's a day by day thing and there is a little anxiety over fewer corn acres because of the weather hiccups.
Winter wheat is enjoying the moisture at this stage of development yet, there is a time when a little hot and dry is what the plant needs. We are keeping all of our senses tuned in for possible disease issues arising because of too much moisture.
Beans might remain the redheaded stepchild as they are the plantings of last resort in some cases and if wheat doesn't look good in a few weeks there is a likelihood of ripping it up and planting beans.
Basis levels still suggest healthy deliveries against the May corn and bean contracts while basis levels for milling quality wheat suggests few, if any deliveries. Yet, we traditionally start seeing new crop move into Fort Worth in mid May so there will be interest in that quality.
The information contained on this site is the opinion of the writer and obtained from sources cited within the commentary. The impact on market prices due to seasonal or market cycles and current news events may already be reflected in current market prices.
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