COMMENTARY 2/22/17

If this incredibly mild weather breaks Thu/Fri it could prevent this from being THE warmest Feb since 1895. a top five ranking is likely, though warmth now does not correlate to weather or yields in the summer.  A severe winter storm is then expected for the N slowing transport logistics carrying 8-16″ of snow accum and high winds.

St Louis river level RISING~ at 9.6′ and forecast 15.0by 3/2.  

CORN

UP 2

Higher on short covering ahead of the end week USDA Ag Outlook forum. How many acres will be est? The average trade guestimate is 90.8 mill acres in a range of 89.0 – 92.5.  Another 5.4 mill bu export sale was announced today to S Korea.

BEANS     

DOWN 4

Weak with anticipation of significant increases in our planted acreage.  The average trade guess is 88.3 mill acre in an 86.5 – 92.5 range.  In SA there is some concern for Mato Grosso beans from recent rain deluges.

 

WHEAT

UP 5

OOOOH!  Get ready to shiver.  The weekend forecast brings some colder weather!  US wheat plantings are expected to be approx. 46.5 mil acres in a range of 41.3-52.0.