COMMENTARY 4/11/18

Warmer temps starting tomorrow for the corn belt.  The drought in the S Plains doesn’t get any reprieve.  In SA, a significant drying out is underway for most of the double crop corn in Brazil while rain continues for Argentina.

CORN

DOWN 2 1/4

favorable weather for planting over the next two weeks contribute to down numbers

 

BEANS              

DOWN 2 1/4

got beat up on the basis side of things today

 

Wheat

DOWN 4 3/4

weather patterns tend to ease on the forecast = favorable conditions

also USDA increased wheat stocks up 30 million


US WINTER WHEAT CONDITIONS:   30% G/E TW   46% LW & 53% LY