COMMENTARY 4/26/17

Rain likely through Sun with some forecasts calling for total accum of 4-7 “.

 St Louis river level STEADY~ at 21.3′ and forecast 22.9 by 5/3.  (Action Stage is 28.0′) (Minor flood stage is 30.0′)

CORN

DOWN 6

Funds ran the other way!  The White House is considering an executive order to withdraw the US from NAFTA. A draft order has been submitted for the final stages of review and could be unveiled late this week or next.  The forecast for next week looks cool/dry and 8-14 day GFS forecast were both drier and cooler as well.  Tomorrow’s Export Sales are expected to range between 28 -35 mill bu with at least 13.4 mill needed from here on out.  Got a sore ankle?  The X Factor may be able to help keep you in the game.

 

BEANS

DOWN 9

Funds were estimated sellers of some 8,500 contracts today.  The Brazilian Real was down 1.5% today and that could increase producer selling. Their lack of selling has been the biggest driver in our US export demand.  Now that your corn is planted, why don’t you take a week off before planting beans?  Tomorrow’s Export Sales are expected to be in the 9-17 mill bu range.

WHEAT

DOWN 1

Wheat has the afternoon off.  Export Sales are expected to range between 11-18 mill bu for the week.