A third of April has flown by with very little planting progress. What's next?
Bean futures have now lost all the gains made since October, but corn is holding up a little better.
The big question this year, of course, is if farmers intend to plant more soybeans and less corn. Or, in the end, will corn once again be king?
Deviations from estimated USDA report numbers in many private estimates are significant.
With the current negative market tone, sellers need to practice patience.
We could have another record- or near-record-large crop this year (as we have the past three years in corn and soybeans), or we could have a below-normal crop – or even a drought!
We have plentiful stocks of all grains, and there is no reason for any significant move in any grain until something happens to change that dynamic.
The soybean market is a lot higher than a year ago, heading into a new crop season.
This analyst believes winter is still a good time to buy grains after we’ve depressed them with the big crops we produced in 2016.
Pro Ag noted last week that current new-crop prices for HRS wheat, corn, and soybeans are HIGHER than last year at this time in spite of much larger carryout projections.