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 CoWheat prices had a massive move today challenging contract lows of $7.36 overnight last night turning around and closing at $7.85 49 cents off the daily low. This was a massive reversal to the upside, very impressive not only from the fact we closed 44-45 cents higher, but certainly shows up as a significant move on the chart turning the technical indicators up as well. Certainly the wheat market looks like it confirmation of bottoming action today.

Today’s Prices

Grain markets finished mixed today as there were no fresh stories breaking allowing margins to move.

Grain Market News

Corn: Weekly Export Sales

Corn sales came in at -315 thousand tons, so that was a negative factor for corn.

U.S. exports are running behind USDA’s totals, so today’s number does not help.

Soybeans: Weekly Export Sales

Soybean sales at 290 thousand tons, as expected or slightly above the level needed.

Wheat: Weekly Export Sales

Wheat sales were up from last week but still relatively small at 211 thousand tons.

They were much better than last year at this time though.

Grain Market News

7-Day Observed Precipitation

Planting has likely been running along extremely quickly in the central and western belts.

We mentioned that most of Indiana, except for the Illinois border, have been cold and wet most of this week.

In the northern belt we need more drying in North Dakota and adjacent areas of South Dakota and Minnesota.

U.S. Drought Monitor

This shows drought continuing in the plain sites, some of the drought and dryness extending into Iowa, Missouri, and now central Illinois.

Nebraska, Kansas, and Oklahoma are still suffering from drought conditions.

Drought Monitor Class Change

Areas in yellow is where the drought has gotten worse, and green is where it has improved.

Last week 1-3 inches of rain in portions of the southwestern plains allowed drought to improve while a lack of rain in Nebraska, Kansas, Missouri, Iowa, and Illinois has allowed drought to expand.

U.S. Radar

Today’s radar shows ongoing dryness for most of the central corn and bean belts.

But these areas do want some rain as they wrap up planting.  

7-Day Precipitation Forecast

Anywhere from 1/2-2 inches of rain in the forecast for those dry areas mentioned.

Unfortunately, North Dakota and adjacent areas also have rain in the forecast, which will delay planting.

Grain Belt Soil Moisture

May Corn Chart

Corn prices are lightly positive, making a new high for the move up to 5.92.

We closed just fractionally higher on the July corn futures.

For the most part corn has been consolidating at the lower end of the range.

Today’s close at 5.89 is 20 cents off the lows posted yesterday morning.

Overall, that has the chart looking okay.

May Soybean Chart

Soybeans prices chopping back and forth basically consolidating at the lower end of the range.

Bean prices were able to close just fractionally higher today, but the choppy nature of prices does have the technical chopping back and forth with no direction.

There are subtle hints of bottoming action but no clear sign.

May KC Wheat Chart

What does show some more concrete evidence of bottoming.

Wheat was sharply higher yesterday with follow through today.

The chart looks good for wheat and the technical pointed upward.

The next level of overhead resistance is in the 8.15-8.20 range.

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 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

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 lower today.

Grain Market News

May Corn Chart

Corn opened at 6.26, right up above the up-trending line.

We then traded up to 6.27 and then saw selling show up which brought us back to the black line.

We broke through the up-trending line and the bottom side.

We traded down to 6.11 and then the market was able to reverse closing 4 cents above the low.

Overhead resistance at 6.25.

May Soybean Chart

Soybeans opened at 14.67.

We then traded up to 14.69 and then ran into some pressure trading back down to 14.44.

We think we can find some support right at the 50% retracement level.

Chart support would be at 14.44 and overhead resistance at 14.54.

Soybean Meal Chart

Soybean meal closed at $445.70.

We have some good support that we have touched a few times.

Our first level of support would be $442.70.

We think demand will improve over in China, so there will be additional demand for soybean and soybean meal.

May KC Wheat Chart

Wheat is coming right into the up-trend channel.

We opened at 8.27 but then we did run into selling and traded down to 8.12.

We broke through the 40-day moving averages and the uptrend line and closed at 8.25.

We think there has been some pressure on the wheat from some rain showers forecasted to come next week in the southern plains.

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 lower today party a correction from the recent run up, partly due to optimism regarding the shipping corridor, and due to some rains in the forecast.

Grain Market News

7-Day Precipitation Forecast

3-Day Snowfall Forecast

Low Temperatures

Outlook

Grain Market News

Weekly Ethanol Production

This chart shows production and last week’s production jumped sharply to 1.024 million barrels per day.

That is the best level in the last 8 weeks and close to the level needed.

Our year-to-date ethanol production is slightly below a year ago, down 2.8%.

Weekly Stocks of Fuel Ethanol

The ramp up in production allowed for a small increase in ethanol stocks.

Stocks are at 25.304 million barrels.

Ethanol Swaps

Prices still trading in that 242-245 range which are some of the best levels we have seen since last Spring.

Ethanol Profit Margins

May Corn Chart

Corn prices are lower today giving the short-term chart a little bit of a topping action.

The chart was down today but one day doesn’t make a trend.

If we don’t get friendly news the next area of chart support would be 6.25-6.30.

May Soybean Chart

Soybean prices were also lower today with a lower close.

In the very short term it does look like the chart may be turning lower, but still in an uptrend off the lows in March.

Chart support at 14.68-14.69 area.

May KC Wheat Chart

Wheat pulled back as well.

If we see follow-through prices could pull back to chart support around 8.30.

We closed today at 8.49.Recommendations

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

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 1^st 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

Today’s Prices

Grain markets finished mostly lower today as current weather for early planting is mostly favorable across the heart of the belt.

Grain Market News

High Temperatures

Snow Depth

U.S. Rivers in Flood Stage

NWS Active Alerts

7-Day Precipitation Forecast

Outlook

Grain Market News

Corn: Weekly Export Sales

Corn sales were disappointing at 528 thousand tons after 5 consecutive weeks of good numbers.

Soybeans: Weekly Export Sales

Soybean sales had a good number at 365 thousand tons, which is well above the number needed to reach the USDA forecast.

Wheat: Weekly Export Sales

Wheat exports were disappointing, which has been a trend with 4 weeks of low sales.

Just 136 thousand tons this week, but we are running close to the target.

May Corn Chart

Corn today looked similar to 2 days ago when we did make a new high for the move but closed lower.

That gives us some mixed signals from today’s chart, but the overall trend is pointed upward.

The chart and technical is continuing to chop sideways.

May Soybean Chart

Soybean prices also made a new high for the move today but turned around and closed lower, so mixed signals.

After bouncing off the March lows, beans have gotten somewhat choppy over the last 2-3 weeks leaving the technical choppy as well.

May soybeans have overhead at 15.27 and chart support at 14.77.

May KC Wheat Chart

Wheat prices have turned down in the short term and as of today prices are challenging chart support.

If wheat finds support and can bounce, overhead resistance will be in the lower $9 range.

Questions or Comments

Today’s Prices

Grain markets finished mostly higher today ahead of tomorrow’s April crop report from USDA.

Grain Market News

High Temperatures

Yesterday’s high temperatures show 70s in the central plains and western belt where many farmers are getting started.

In the eastern belt it is not quite as dry and warm but still mid to upper 60s.

We won’t have any activity in the northern plains due to a lot of snow on the ground.

Snow Pack

Today’s snowpack map shows that the area of snow cover is being reduced.

Last week it was closer to the Nebraska border and further south in Minnesota, so it’s gradually retreating.

U.S. Rivers in Flood Stage

As snow has been melting and retreating, flooding is starting to increase in that area.

The good news is the central belt, and the heart of the belt isn’t experiencing much flooding at this time.

30-Day Observed Precipitation

We have seen a lot of precipitation in the northern plains, at least for the January-March time frame.

Virtually no precipitation in the southwestern plains.

The Ohio valley down into the delta has seen more rain than desired.

Th one sweet spot, or where farmers are the closest is in areas of Nebraska, Iowa, northwest Kansas, and portions of Missouri.

30-Day Observed Precipitation % of Normal

This shows the area where planting may be getting the bets start is again in Nebraska, Kansas, and Missouri.

7-Day Precipitation Forecast

The forecast shows a half inch to an inch of rain across portions of the northwestern belt and northern plains beginning Thursday.

Outlook

The 6-10 and the 8-14 shows cooler temperatures in the northern plains and northwestern belt.

With that could come above normal precipitation.

We view the longer-term forecast map as being lightly supportive.

Grain Market News

U.S. Ending Stocks

South American Production

World Ending Stocks

May Corn Chart

Corn had a good day with a key reversal taking out Thursdays low and closed above Thursdays high.

With a little friendly news, we could test last week’s high that is near overhead resistance.

Technical indicators hook upward today on the key reversal.

May Soybean Chart

Soybean prices did not bounce today, in fact they closed lower.

Charts right now are testing support levels where we had multiple lows in December-March

Given the fact that we did not bounce today, the chart is pointed downward in the short term and the technical is pointed downward.  

May KC Wheat Chart

Wheat prices had a good day with an outside day up.

We had a correction last week to the downside.

The overall uptrend is still in place off the lows taking place in early March.

Today’s close at 8.76 is still a little over a dollar from the lows posted a month ago.  

Questions or Comments

Today’s Prices

Grain markets finished lower today on chart and technical selling following the recent break and on an improved forecast next week.

Grain Market News

Outlook

The 6-10 days are much above normal temperatures in virtually the entire belt and above normal temperature sin the 8-14 as well.

Next week will be dry but the 6–10-day forecast does show increasing precipitation.

The weather forecast for the northern plains could be problematic in North Dakota, South Dakota, and Minnesota but favorable for the southern and southwestern plains.

7-Day Observed Precipitation

Over the past week we’ve seen heavy precipitation in the northern plains, much of that falling in two separate snowstorms.

The central belt into the western belt they have seen some drying.

Unfortunately, the southwestern plains have been drying over the last week with some significant wind and dust storms.

U.S. Temperatures

This week we actually added to the snowpack in the northern plains.

National Weather Forecast

We have been in La Nina over the past 2 years.

But this winter and the current time frame we are now neutral.

The forecast is calling for rapidly warming temperatures, this could be a strong El Nino by the time we get to mid-summer.

El Nino could mean favorable weather for the corn and bean belt, but other forecasters believe a rapid transition could mean bouts of heat this summer.

Grain Market News

Corn Acres

Corn is estimated to increase to 92 million planted acres, last year it was 88.6.

Our guess is the final planted acres will be closer to 90 million.

Soybean Acres

Soybean acres estimated at 87.5, the same as last year.

If we have difficulties, it’s likely the bulk of prevented plant will be in the corn and spring wheat market.

Wheat Acres

Winter wheat planted area 37.5, up 4.2 million acres from last year.

Corn: Weekly Export Sales

Corn sales were very good at 1.247mmt, that’s nearly 3 times the level needed to reach the USDA forecast.

Soybeans: Weekly Export Sales

Export sales for soybeans were somewhat disappointing at just 155 thousand tons, that’s below the level needed to reach the export forecast.

Wheat: Weekly Export Sales

Wheat exports were also disappointing but with just 7-8 weeks left in the marketing year we believe that exports are close to reaching the USDA target.

May Corn Chart

Corn made a new low for the move; we have reconfigured the chart slightly because we did take out the 6.48 bottom from January.

This opens for a move down to 6.36, which is 7 cents below today’s close.

The 20-day moving average comes in at 6.39, this is our next target if we can’t get some friendly news.

The chart has turned lower and the technical indicators as well.

May Soybean Chart

Soybean prices have also turned lower in the short term on the cart which turned the technical down.

The next level of significant chart support is at a multiple bottom at 14.70.

We closed at 14.92 today.

May KC Wheat Chart

Wheat prices have also had a pullback off the highs posted earlier this week which turn the technical down.

There are additional downside risks without friendly news next week.

Chart support is down at 8.40-8.50 levels.

Questions or Comments