COMMENTARY 4/27/17

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

 St Louis river level STEADY~ at 22.5′ and forecast 22.4 by 4/30.  (Action Stage is 28.0′) (Minor flood stage is 30.0′)

CORN

UP 3

Firmer on cold weather forecast and support today from Export Inspections!  Inspections came in above expectations at 38.9  mill vs 28 -35 mill.  Trump has opted to NOT to immediately terminate the US role in the NAFTA agreement.

 

BEANS

UNCHANGED

Wet weather is negative for the complex, possible via more acres but stellar export sales this morning with China buying more old crop and South American producers still not selling due to prices.

WHEAT

UP 6

Export Sales were dismal at only 2.3 vs expectations of 11-18 mill.