Commodity Comments: 

4/9/2018

Crop Progress Report was released this afternoon:

Corn planted is right on par with the 5 year average of 2%.

Winter Wheat Conditions decreased to 30% Good/Excellent versus the 5 year average of 44%. 

Spring Wheat planting is at 2% versus an average of 6%.

Tomorrow the USDA will released their April WASDE report.  The trade is wondering about the South American bean crop.  Will Argentina have more of a loss than the trade has already factored in?  Will Brazil have more beans than originally thought and they will cover some of the deficit in Argentina?

China is getting prepared to release their 2014 corn state reserves up for sale. 

The trade war and tariff question continues to be on everyone's mind lately.  Currently, the US does have a 70 cent advantage, off of the US Center Gulf, over Brazil Santos to China. 

The delayed spring weather is decreasing the winter wheat conditions.  Soil temps aren't allowing much progress to continue for spring wheat planting either.   

As always, Thank You for your business.  Hopefully this weather straightens out to more seasonable conditions soon.  Have a good night!

 

Tiffany Heier