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Gary's Blog 05/13/26 1:54:19 PM
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5-11-26 Planting progress %
TW LW OH
Corn 57 38 37
Beans 49 33 34
5-13-26
The bullishness of yesterday’s crop report lingered for a while but slowly subsided by the market close. Corn and soybeans finished just above unchanged while wheat was off 3 cents. There has been a lot to digest for traders over the past 24 hours and the reduction to the wheat crop remains at the top of the list. Trumps meetings with Xi is a close second and traders are following closely for any mention of soybeans or corn. Weekend weather will come under the microscope as forecasts at midday are too wet for planting to resume. We are now nearing the timeframe where planting delays/acre switches/yield loss starts to make its way into the conversation. Big market swings are possible heading into the weekend.
5-11-26
When peace talks with Iran failed late yesterday markets began to rally. This has been the theme for the past several weeks with crude oil usually being the first to go. There are a ton of things happening this week in the grain markets. Today will feature updated planting progress followed by a USDA crop report tomorrow at noon, and if that wasn’t enough a trip to China later in the week by the Prez. (not to mention HRW crop tours) All of these things themselves are more than capable of moving the market. Locally we seem to be more focused on the weather as producers would like to finish planting, but pesky rain showers keep showing up when things are about fit. Look for big market swings as funds are pushing net long positions near record territory.
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