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Gary's Blog 04/29/25 1:49:55 PM
4-28-25 planting progress
TW LW
Corn 24% 12%
Beans 18% 8%
4-29-25
It was a bad day to be a bull on the CBOT as large losses were had across the board. Ideal planting weather had traders hitting the sell button for the summer row crops while dry areas of HRW country got some much-needed rain. Wheat (SRW) is testing post covid lows on the move. Overall, the bearish tone owned the marketplace today as we near FND and month end.
4-28-25
Markets were mixed to start the week. It seems counterintuitive that beans are holding on to strength while we are in a full-blown trading war with our biggest customer. (China) On the flip side wheat has the most bullish fundamentals yet continues to slide and make new lows for the move. Corn is caught somewhere in the middle. Funds (per CFTC) are long +100,000 corn contracts while short wheat. Updated planting progress numbers will be posted after 4pm. So far this spring we have had a nice mixture of planting/germination weather for most of the cornbelt.
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