Market Thoughts by Marc

Keep Up with the Markets

May 3, 2017

May corn 366 ¼ +2 ¼        May soybeans 965 ½ + 7 ½        May Mpls wheat 548 ¼ +4 ¾                 
July corn 374 ¾ + 2 ¼           July Soybeans 975 ¼ + 6 ½       July Mpls wheat 561 ¼ + 3 ¾    
Dec 17 corn 392+ 2 ¼         Nov17 Soybeans 970 + 5 ¼       Sept 17 Mpls wheat 565 ¾  

OK- they it changed again.  One of the weather models turned cooler and wetter through next week. Another model suggests this weather pattern will turn dryer by the end of the week. Hummm- everybody gets a guess.

The Kansas Wheat turn turned in what were called good yield projections (43-Bu/acre) after the first day of the tour. However, the tour will move in to the area with the most damage from the recent snow storm.  KC wheat did trade slightly lower, Chicago was unchanged and Mpls wheat was higher today. today.      

Brazils monthly Soybeans exports hit an all-time record high of 10.4 mmts for April. However, corn exports were below last month and last year.

Ethanol production and stocks were unchanged from last week. Crude oil, gasoline and heating oil stocks were all about the same as last week.