Some time to plant followed by a good chance of rain approaches late next week with 1-2″ of accum possible for the W Corn Belt, leaving most of the E Corn Belt and Delta dry.

 St Louis river level STEADY~ at 21.9′ and forecast 21.9 by 4/26.  (Action Stage is 28.0′) (Minor flood stage is 30.0′)



Into the red again as weather is giving the Cornbelt an opportunity to play catch up with the Delta and SE getting some rain in the next 5 days.  Planting delays are perceived as only temporary.  Analysts  are expecting 10-12% planted on Mon, vs 28% last year and 18% average.  The corn belt’s forecast should allow for some decent planting this weekend.  Funds are long 289k contracts.



UP 4

We finally found support from continued strong export demand. The USDA announced another sale of 146K MT of old crop to unknown. Brazil farmers are still being non-sellers with the last third of their beans crop as they wait for better perceived prices.  Estimates on planting progress should be on the chart at 3%.




Mixed today.  Funds are at or near record short, but finding something to excite them into buying is a trick.