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
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
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 Commentstions or Comments
Today’s Prices
Grain markets finished lower following through on last week’s weakness and a little improvement on the planting outlook in this week’s weather.
Grain Market News
Corn: Weekly Export Inspections
Corn exports were at 35.975 million bushels, down from last week when we hit almost 50.
This is also well below the total needed.
Today’s corn inspections were viewed as disappointing.
Soybeans: Weekly Export Inspections
Soybean inspections at 13.777 million bushels, slightly below the total needed to reach the USDA forecast.
Also seen as lightly disappointing.
Wheat: Weekly Export Inspections
Wheat exports inspection up from last week but at 13.368 million bushels still well below the level needed to reach the forecast.
Grain Market News
Cattle on Feed
Down 4.4% from last year which is shown in green.
Last week’s cattle on feed were down 4.5%.
Overall, this is viewed as good news for overall feed demand.
7-Day Observed Precipitation
Over the past 7 days we saw 1-3 inches of rain from eastern Nebraska, western Iowa, into southern Minnesota.
Snow fell in the far northern plains, anywhere from 8-12 inches last week.
The eastern belt generally had a quarter to 3 quarters, so not as much rain.
Low Temperatures
Yesterday morning temperatures were below freezing across the bulk of the corn and bean belt.
Some teens in Nebraska, eastern Colorado, northern plains, and Kansas.
There may be a few crops that emerged that may have to be replanted due to the hard freeze.
Snow Depth
We still have a foot of snow in some areas of North Dakota, with 2-6 inches of snow in most of eastern North Dakota, western-northwestern Minnesota, and northeast South Dakota.
7-Day Precipitation Forecast
The forecast shows generally a quarter to 3 quarters across the central and eastern Belt and lighter rains in the northern plains.
Unfortunately, the delta could see additional rain and they may continue to struggle with a timely planting time.
Outlook
Cold temperatures across all of the corn and bean belt in the 6-10, Warming a little bit in the 8-14 day.
May Corn Chart
Corn prices pushed another new low today down to 6.04.
We closed at 6.07, so still lower on the day.
The chart is still pointed downward as well as the technical.
This is no place to be making sales.
May Soybean Chart
Soybeans were down sharply over the last 4 days.
Technical indicators pointed sharply downward as well.
We are not extremely oversold, but we will get there very quickly, based on the recent decline.
We view soybeans as being better places for end users to buy, no sales.
May KC Wheat Chart
Wheat is also seeing a sharp break.
The difference is the wheat market had an inside day and actually took out Fridays high.
We are still pointed downward on the chart and technical.
If we get some friendly news tomorrow and recover, both the chart and technical could show signs of turning.
Questions or Comments
