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Gary's Blog 04/24/26 1:39:07 PM
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4-20-26 Planting progress %
TW LW OH
Corn 11 5 9
Beans 12 6 9
4-24-26
Markets were mixed heading into the weekend. It’s that time of year when Friday/Monday trades feature risk on/off depending on weather conditions. Planters are rolling here in NW Ohio, but rain is in the forecast. Planting delays in E. Iowa/N Illinois are being talked about, but the forecast has removed some rain in the extended. Yield drag doesn’t usually become a concern until after May 15th. That use to be the gold standard “date” but that may have changed a bit with the new hybrids. Wheat finished 2 cents lower despite all the negative chatter coming from the HRW producers. It seems to be getting louder and louder now with just “how bad it really is out there.” Corn and soybean price direction will be tied to planting progress in the coming days with Funds still holding onto net long positions.
4-23-26
Yesterday’s showers were spotty with rain amounts from zero to .9in across the local area. Those who missed out completely are at full throttle while others had to wait till this afternoon for things to dry off. It looks like we will get one more day of field work before rain showers blanket the area for the weekend. Markets were mixed as traders tried to decipher weather maps with planting progress across IA, IL, MN, & WI. Those areas are starting to garner more attention as the calendar turns to May. The southern states will welcome rain showers as they are well ahead of normal. Wheat was the big winner today as traders debate the severity of the HRW crop. That crop is in desperation mode and has used up almost all of its “9 lives.”
4-21-26
Planting progress numbers were ahead of historical averages but that doesn’t tell the whole story. Southern states (where it’s been dry) are way ahead of schedule while key states like Iowa, Illinois, and Wisconsin are waterlogged with more rain in the forecast. Traders are starting to add weather premiums in until we see a change in the forecast. Ohio is seeing its fair share of planters rolling. Wheat ratings are borderline terrible in the west, but the SRW crop is in much better shape.
4-20-26
Weather and planting progress seem to be the hot topics in the grains while Iran updates hit the energy/equities. The wild temperature swings in the west have wheat producers “killing the crop.” From 90’s to below 30 on headed wheat must be causing problems not to mention the extreme dryness. Updated crop conditions will be released at 4 today. We look for that KS/OK area to struggle in the G/E category. Corn/bean planting is full in bore in some areas while others sit on the sidelines waiting for soils to firm. Funds have trimmed some of their net length especially in corn market per Fridays CFTC report. Talk of switching acres from corn to beans is starting to make the rounds. (N cost & weather concerns)
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