COMMENTARY 5/26/17

Scattered for the Corn Belt, Delta, and C Plains through the holiday weekend with heavier accums to the W.  Next week should have at least a three day break from rain and then some much needed warmer temps too!  Due to the holiday on Monday our weekly Planting Progress will be out Tues afternoon.  Here’s to a NICE extended weekend!  Get those beans planted.  You can rest next week!

CORN

UP 4

Hmmm…pondering ideas on the likelihood of prevent plant and switching acreage over to beans.  Thoughts are in the 1 -1 1/4 mill acre range.  The Buenos Aires Grain Exchange has their est of the Argentina crop still at 39 MMT and harvest there is now 36% complete, 7% ahead of last year.

 

BEANS

DOWN 13

The opposite of yc acres is….. an increase in beans acres!  Thoughts on the final acreage could be a half mill acres, give or take.  Our exports last month are averaging 15.3/mill bu/week which is DOUBLE that of last year and 70% HIGHER than the 5 yr avg.  Meal on the other hand is only 168 K MT.  That’s 18% below last week.  Yesterday, the IGC increased the 16/17 global production est 5 MMT to 350 mill due to bigger SA yields. on higher South American numbers. The Brazil Producers expects next year’s acres to increase at least 2 % to 34.7 mill acres.

 

WHEAT

UP 8

Early yields continue to disappoint.  Proteins are substandard and to top that off, too much moisture in Canada is indicating a mill and a half acres may get planted late OR maybe not at all.  It is still hot/dry in China, at least through the weekend.