We’ve seen it all this week when it comes to weather. It kind a feels like the first half of April instead of the 14^th of May. Did April and May switch positions this year? How much damage was done by the frost and excess moisture this week? Any bean fields that were up will have to be replanted. Next weeks drier and warmer weather should help the overall condition of the corn and soybean crops. Maybe by the end of next week we can finish up our planting season!

 

The lower crude market, higher dollar, and lower equities will pressure grain prices.  The current weather forecast is also bearish. Technically the corn and bean markets are trading near the bottom of the established trading range. This should give some end users the opportunity to get some of their needs covered.    Corn basis widen out on the China news and large old crop stocks.  Bean basis has started to narrow in due to little farmer selling. What will next week bring to the trading floor? Look for market volatility going forward in the near term.

 

Have a great weekend and attend the church service of your choice.