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Planting talks undercut corn futures on Monday

Planting talk seemed to undercut corn futures Monday. Surging equity markets, news of Chinese economic stimulus and the USDA Export Inspections result all appeared supportive of corn futures. However, prices declined rather significantly modestly Monday, which seemingly reflected a reaction to ideas that plantings surged in the southern Corn Belt last week. May corn futures closed down 1.75 cents at $3.78/bushel Monday, while December sagged 2.0 to $4.0125.

Markets

Wheat markets mixed in midday trading on Monday

Planting talk seems to be undercutting corn futures. Surging equity markets, news of Chinese economic stimulus and the USDA Export Inspections result all might be construed as supportive of corn futures. However, prices declined rather significantly this morning, which seemingly reflects a reaction to ideas that plantings surged in the southern Corn Belt last week. May corn futures sank 2.0 cents to $3.7775/bushel late Monday morning, while December sagged 2.25 to $4.01.

Markets

Soy complex softens as weekend nears

Rainy weather may have affected corn futures. The corn market seemingly had few reasons to rally Friday, especially with the stock market diving and the U.S. dollar rebounding. The yellow grain may simply have reacted to firm soy and wheat quotes, but one also has to wonder if the early strength reflected ongoing planting delays and forecasts for wet, cool weather into early May. May corn futures rose 3.5 cents to $3.7975/bushel in late Friday action, while December added 3.0 to $4.0325.

Markets

Rainy weather affecting corn futures Friday at midday

Rainy weather may be starting to affect corn futures. The corn market seemingly had few reasons to rally this morning, especially with the stock market diving and the U.S. dollar rebounding. The yellow grain may simply be reacting to firm soy and wheat quotes, but one also has to wonder if today’s early strength reflects ongoing planting delays and forecasts for wet, cool weather into early May. May corn futures gained 2.75 cents to $3.79/bushel late Friday morning, while December added 2.0 to $4.0225.

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