Market Thoughts by Marc

Keep Up with the Markets

April 27, 2017

May corn 362 + 3           May soybeans 945 ¾ - 0             May Mpls wheat 540 ¼ + 2 ¼             
July corn 369 ¼ + 2 ½          July Soybeans 957 ½ + 1          July Mpls wheat 553 ¼ + 2 ½     
Dec 17 corn 386 ¾ + 2 ½       Nov17   Soybeans 954 ½ + ½      Sept 17 Mpls wheat 559 ¼ + 2 ¼  

The news yesterday that Pres. Trump might pull out of NFTA, along with a drier weather pattern may have helped the bears drive down corn and beans yesterday, today when the news was that the US was not jumping out of NAFTA, the corn made back ½ of what it lost in previous session.

The weather forecast is for very wet weather across much of the Midwest for the next 4-5 days. Hummm – wet is one thing, but snow in Minnesota is another, 2-too’s.

There was a rumor that China may start to auction off state owned corn next month. Hummm- just so they don’t sell it to Japan.

The USDA weekly export sales for wheat was well below what analysts were looking for. However, corn and soybean sales were well above what the market was anticipating.

Tomorrow is first notice day format futures contracts.