Today’s Prices
Grain markets finished higher today, rumors that Russia may not allow the continuation of the shipping corridor supported the bounce.
Weekly Price Summary
Grain Market News
Corn Production
Grain Market News
U.S. Drought Monitor
Class Change
High Temperatures
Soil Temperatures
U.S. Radar
7-Day Precipitation Forecast
Low Temperature Forecast
May Corn Chart
Corn prices shot to the upside today, today’s high at 6.68 matches the high from about 2 weeks ago.
Overall today’s move makes the chart look good and was enough to turn the technical up.
Prices are now approaching overhead resistance at the 6.68-6.70 range.
May Soybean Chart
Soybeans prices were disappointing today with an outside day down.
We did hold chart support and we did close near the upper end of the range.
Bottom line is soybean prices have been chopping back and forth over the last couple of weeks leaving the technical chopping.
May KC Wheat Chart
Wheat prices looked good today after testing chart support.
Wheat prices exploded to the upside and closed near the daily high which makes the chart look good and the technical trying to hook upward as well.
Unless we get bearish news it does look like this market may be interested in testing the area of 9.02-9.09.
Recommendations
Questions or Comments
Today’s Prices
Grain markets finished higher today, rumors that Russia may not allow the continuation of the shipping corridor supported the bounce.
Weekly Price Summary
Grain Market News
Corn Production
Grain Market News
U.S. Drought Monitor
Class Change
High Temperatures
Soil Temperatures
U.S. Radar
7-Day Precipitation Forecast
Low Temperature Forecast
May Corn Chart
Corn prices shot to the upside today, today’s high at 6.68 matches the high from about 2 weeks ago.
Overall today’s move makes the chart look good and was enough to turn the technical up.
Prices are now approaching overhead resistance at the 6.68-6.70 range.
May Soybean Chart
Soybeans prices were disappointing today with an outside day down.
We did hold chart support and we did close near the upper end of the range.
Bottom line is soybean prices have been chopping back and forth over the last couple of weeks leaving the technical chopping.
May KC Wheat Chart
Wheat prices looked good today after testing chart support.
Wheat prices exploded to the upside and closed near the daily high which makes the chart look good and the technical trying to hook upward as well.
Unless we get bearish news it does look like this market may be interested in testing the area of 9.02-9.09.
Recommendations
Questions or Comments
Today’s Prices
Grain markets finished higher today, rumors that Russia may not allow the continuation of the shipping corridor supported the bounce.
Weekly Price Summary
Grain Market News
Corn Production
Grain Market News
U.S. Drought Monitor
Class Change
High Temperatures
Soil Temperatures
U.S. Radar
7-Day Precipitation Forecast
Low Temperature Forecast
May Corn Chart
Corn prices shot to the upside today, today’s high at 6.68 matches the high from about 2 weeks ago.
Overall today’s move makes the chart look good and was enough to turn the technical up.
Prices are now approaching overhead resistance at the 6.68-6.70 range.
May Soybean Chart
Soybeans prices were disappointing today with an outside day down.
We did hold chart support and we did close near the upper end of the range.
Bottom line is soybean prices have been chopping back and forth over the last couple of weeks leaving the technical chopping.
May KC Wheat Chart
Wheat prices looked good today after testing chart support.
Wheat prices exploded to the upside and closed near the daily high which makes the chart look good and the technical trying to hook upward as well.
Unless we get bearish news it does look like this market may be interested in testing the area of 9.02-9.09.
Recommendations
Questions or Comments
Today’s Prices
Corn and soybeans finished higher today as there are still concerns about a cool, wet pattern in place while wheat was lower on the idea that the winter wheat belt could get some rain.
Grain Market News
Winter Wheat Crop Conditions
This shows the rating did hold steady, this year shown in yellow has 27% good to excellent.
The year 1989 is the only year in the past 37 years that had a lower rating by 1%.
Corn Planting Progress
Corn planting came in at 8% complete.
USDA says that is above the 5-year average.
But 4 of the last 5 years had very slow planting.
Soybean Planting Progress
Soybeans came in at 4% planted, slightly above last year’s planting pace.
Grain Market News
Low Temperatures
Last week was very warm and considered beneficial.
This week is quite cold, in fact yesterdays low was down below freezing for about half the U.S. corn and bean belt.
7-Day Precipitation Forecast
The 7-day forecast shows anywhere from a half inch to an inch and a half for most of the corn and bean belts.
The exception would be in the plain states where totals are expected to be lighter.
7-Day Snowfall Forecast
Adding to some of the support in the new crop corn and beans is there is more snow in the forecast.
Most of it will fall in northern Minnesota and North Dakota.
The lighter gray could be 1-2 inches of snow for South Dakota, southern Minnesota and then maybe 4-6 inches or more for Michigan southward into portions of Indiana and Ohio.
Outlook
Temperatures remain cool in the 6-10 days especially in the eastern belt and remain cooler than normal for the central and eastern belt in the 8-14 day.
Precipitation does look lighter in the 6-10 days, that’s good news for the upper Midwest and lower great lakes.
Unfortunately, not much rain in the southwestern plains in the 6-10 day but looking toward the end of the month it does show the potential for above normal precipitation including the southwestern plains.
May Corn Chart
Corn prices did post a new high for the move at 6.47.
That takes out the high from around the 1st of April at 6.45.
Overall, the chart looks good pointed upward as well as the technical pointed upward.
Overhead resistance in the lower 6.50s.
May Soybean Chart
Soybean prices also pushed to new highs today and closing higher on the day.
Today’s high at 15.01 took out the previous high by just a penny.
The chart is pointed upward and attempting to have a clean break out above our downtrend line.
No sign of topping action yet.
May KC Wheat Chart
Wheat prices also posted a new high for the move up to 8.86 today taking out the 8.84 high posted a couple weeks ago.
One difference on the wheat is wheat prices did close lower on the day but nonetheless the chart looks good.
The technical indicators are a little bit mixed but still look good.
If wheat is not able to close higher in the next couple days, then chart support would be at 8.40 with overhead resistance at 8.94.
Questions or Comments
