Morning Ag Commentary 2019-04-02T14:00:40+00:00

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Apr 23 Morning Ag Commentary

by Steve Freed,

Grains are unchanged. SN is near 8.90. CN is near 3.63. WN is up 2 cents and near 4.43. U.S. Dollar is higher. Crude is higher. U.S. stocks are lower.

Chinese shares ended a volatile session lower, extending sharp declines from the previous session, as investors worried that Beijing could slow the pace of policy easing following a stronger-than-expected economic performance.

The U.S. Winter Wheat crop was rated 62% good to excellent versus 60% a week ago and 31% a year ago.

The U.S. Spring Wheat crop was 5% planted versus 2% a week ago, 3% a year ago, 22% average.

U.S. Corn plantings 6% complete versus 3% a week ago, 5% a year ago, 12% average.

U.S. Soybeans planted totaled 1% versus 2% last year, 2% average.

Yesterday’s U.S. weekly export inspections had Wheat exports running 4% behind a year ago with the USDA currently forecasting a 5% increase on the year, Corn 12% ahead with the USDA down 6% for the season and Soybeans 28% behind with the USDA having a 12% decline forecasted on the year.

The U.S. Midwest weather forecast now sees moderate rainfall from 3 systems moving through the Midwest over the next 10 days into next Tuesday.

The Southern U.S. Plains has rains finishing up in the eastern parts of the region before drying out through the weekend. Rains return with good coverage for the southern Plains the first half of next week.

The Northern U.S. Plains stays generally wet with some rains bringing light amounts through Thursday. A couple of systems than bring moderate rainfall to the region by the weekend and early next week.

The U.S. Delta and the Southeast is expected to see an improving trend towards drier conditions over the next two weeks, especially after Sunday.

Brazilian soybean farmers had finished harvesting 92% of the area planted with the crop as of Thursday, according to consultancy AgRural; that’s little changed from the five-year average of 91% for the date. Independent truck drivers in Brazil are once again threatening another nationwide strike as soon as Monday, April 29th.

The information conveyed by ADMIS or its affiliates to the audience is intended to be instructional and is not intended to direct marketing, hedging or pricing strategy or to guaranty or predict future events, including the pricing and pricing movements of commodities and commodity futures contracts.

April 23rd, 2019|
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Apr 23 Morning Ag Commentary

by Steve Freed,

Grains are unchanged. SN is near 8.90. CN is near 3.63. WN is up 2 cents and near 4.43. U.S. Dollar is higher. Crude is higher. U.S. stocks are lower.

Chinese shares ended a volatile session lower, extending sharp declines from the previous session, as investors worried that Beijing could slow the pace of policy easing following a stronger-than-expected economic performance.

The U.S. Winter Wheat crop was rated 62% good to excellent versus 60% a week ago and 31% a year ago.

The U.S. Spring Wheat crop was 5% planted versus 2% a week ago, 3% a year ago, 22% average.

U.S. Corn plantings 6% complete versus 3% a week ago, 5% a year ago, 12% average.

U.S. Soybeans planted totaled 1% versus 2% last year, 2% average.

Yesterday’s U.S. weekly export inspections had Wheat exports running 4% behind a year ago with the USDA currently forecasting a 5% increase on the year, Corn 12% ahead with the USDA down 6% for the season and Soybeans 28% behind with the USDA having a 12% decline forecasted on the year.

The U.S. Midwest weather forecast now sees moderate rainfall from 3 systems moving through the Midwest over the next 10 days into next Tuesday.

The Southern U.S. Plains has rains finishing up in the eastern parts of the region before drying out through the weekend. Rains return with good coverage for the southern Plains the first half of next week.

The Northern U.S. Plains stays generally wet with some rains bringing light amounts through Thursday. A couple of systems than bring moderate rainfall to the region by the weekend and early next week.

The U.S. Delta and the Southeast is expected to see an improving trend towards drier conditions over the next two weeks, especially after Sunday.

Brazilian soybean farmers had finished harvesting 92% of the area planted with the crop as of Thursday, according to consultancy AgRural; that’s little changed from the five-year average of 91% for the date. Independent truck drivers in Brazil are once again threatening another nationwide strike as soon as Monday, April 29th.

The information conveyed by ADMIS or its affiliates to the audience is intended to be instructional and is not intended to direct marketing, hedging or pricing strategy or to guaranty or predict future events, including the pricing and pricing movements of commodities and commodity futures contracts.

April 23rd, 2019|
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