4/30/18: Mark's "Market Talk" Blog

What a difference a week makes. The weather finally turned warmer and the planters started rolling. Things have moved fast in our area and now everyone is looking for some rain.

The markets moved this past week and both finished the week with some good gains. July corn was up a strong 13 cents last week. July beans finished the week 17 higher as port troubles in Argentina sent meal buyers our way.

The funds continue to hold a large long bean position and currently they are supporting it which shows in an upward market. However if the China trade troubles aren’t solved it could get ugly in a hurry. If new crop beans get into the upper 9’s a person should catch up on his sales to protect some of your costs.

Cash corn benefited from both a higher board and better basis levels as farmers let the grain hauling go so they could get their the planting done. Traders will be watching the weekly progress reports the next 3 weeks to see how fast the corn gets planted.

The dry weather has allowed a lot of areas to get going and with the size of equipment we have today it happens in a hurry. The carry into July is not very high today as the processors want corn now. If this year’s crop gets a good start I expect to see more farmer selling in the next 60 days.

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