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Gov. Reynolds Signs Emergency Proclamation
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Good Morning! The grain markets are mildly lower as we approach today’s all-important Quarterly Stocks as well as the Planting Intentions reports. Today is also the last trading day of the month and quarter. So far this month, nearby corn futures are down 28 cents, beans are down 15 cents, while Chicago wheat is 40 cents higher. US equities are under mild pressure while the dollar index gapped higher following the recent sell-off; energy prices are rallying on news Presidents Trump and Putin will meet to discuss low energy prices. The average trade estimate for next week’s USDA Quarterly Stocks report has corn stocks as of March 1st at 8.125 billion bushels, soy stocks are pegged at 2.241 billion and wheat stocks are estimated at 1.432 billion bushels. The average trade estimate for next week’s USDA Prospective Plantings report has corn acerra estimated at 94.328 million, soy 84.865 million and wheat acres at 44.982 million acres. Texas corn crop 50% seeded versus 41% on average. KS wheat rated 50% good to excellent, up 2% on the week. TX wheat rated 56% good to excellent, versus 49% last week. OK wheat rated 70% good to excellent, down 7% from last week., CO wheat crop rated 51% good to excellent versus 55% last week. SD wheat crop rated 85% good to excellent versus 73% at the end of February. Brazil soy harvest is reported at 76% complete through last Thursday versus 66% the previous week. China’s official Purchasing Manager’s Index for March was 52.0 versus trade expectations of 45. A reading above 50 indicates expansion in manufacturing while a reading below 50 indicate contraction. News wire reporting China has dropped ban on Canadian canola. NOAA’s 6 to 10 as well as the 8 to 14-day maps have turned much warmer than previous runs. Rainfall totals will remain above normal in the Delta while the Midwest should see normal to slightly above normal rainfall totals.
Have a great day!
Wayne Kollis - Mike Rosenberg - Matt Zeman - Austin Behrendsen
Tue 3/31
Wed 4/01
Thu 4/02
Fri 4/03
Sat 4/04
High
57 F
68 F
55 F
37 F
45 F
Low
38 F
44 F
34 F
29 F
24 F
Precip
0%
20%
80%
The soil conditions this Spring will greatly increase the importance of combating seedling diseases in our soybeans. ...
Diversify your strategies to control tougher weeds....
Protect yield and the environment. ...
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