April 24, 2014

Thursday has arrived and we are a little damp this morning here.  From the reports that I have gotten it would seem that we have had under 2 tenths of an inch at this time here in Rock Valley.  The corn market is reacting to the rain and the forcast for more moisture over the entire corn belt for this weekend which will delay corn planting.  The trade wants to make the planting progress a bullish story to support futures and give them an opputunity to make some money.  We will behind the 5 year average on Monday the way it feels and they are going to make the most of it.  The soybean complex is still struggling with the China story of them reselling cargos to the U.S. which is filling in the gap of the U.S. until we get to new crop.  The basis and spreads still have some work to do to get the soybeans in the right place. It would seem that here we seem to have plenty of soybeans, the south and east are looking for some.  We look will continue to have a mixed market place as we sort out the news and try to figure out what the speculators want to do.  Have a great day!

Wayne
 
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