Corn steady, Beans up 25, Wheat up 23
Crude Oil- 103.75 down .30
US Dollar- 79.80 up .04
Dow- 16,261 up 88
If you have any remaining treated beans in your trailers, CLEAN THEM OUT before mixing them with anything you plan to take to the elevator. FDA regulations strictly prohibit any treated beans to enter commercial channels. The financial exposure you expose yourself to if you do deliver beans that have been mixed could be severe.
Today had actually turned out to be a relatively decent day, nothing that’s going to increase soil temp by 5 degrees however we’ll take this over the 24 degrees we saw this morning. It looks like warmer weather moves in tomorrow, lower Thursday and by the weekend we see 70 degree days again.
Beans were up and running this morning and closed the session up 25, 8 pennies off their high for the day. Funds bought 11,000 lots on the day. There wasn't much news today from the Chinese, they are concerned over a few things 1 being their crush and the beans they have to crush 2) there are beans floating across the pond without letters of credit on them and nobody’s unloading anything that’s not been collected on. Other news is that planting picked up over the weekend in the southern states Louisiana is 13% planted, Arkansas and Mississippi are anywhere between 4 and 6% planted Texas was the winner at 16% planted.
Corn made its attempt at rallying today but fell to close the session mostly steady more on weather I think than anything, parts of Iowa got rain, hail, and snow over the weekend, while rumor has it Chicago was covered in snow this morning however with decent weather slowing making its way to the Midwest region most are hoping the cold weather won’t have to much of an adverse effect on what’s already in the ground, there is a third side to the story though, planting was pushed back that much farther with this last rain shower so we’ll see how this shakes out throughout the week.
Wheat followed right behind beans today, I think there’s more than one reason for that, the first being that the relationship right now between Russia and Ukraine may cause Ukraine to change their production. I read the other day that the currency used in the Ukraine is slipping and sliding around and having that said there’s some caution in selling. The second reason we saw wheat rally was on weather and the fact that a lot of wheat has a hard freeze on it last night, most are hopeful that there was no damage however time will tell.
That’s what I've got for you all tonight!