Market Recap and Crop Progress

Posted: May 1, 2023, 2:35 p.m.


It was a choppy trade in the grain markets today.

Corn

July corn traded on both sides of unchanged, in a 10-cent range, before settling at 584 ½, that was down ½ of a cent on the session.  The new crop December contract settled down 2 ½ cents, settling at 525 ¼.

Crop progress showed corn planting at 26% complete, up 12% from last week and right inline with the 5-year average.  6% of the crop is emerged, 1% ahead of the 5-year average. 

Soybeans

July soybeans traded in a 16 ¼ cent range before settling 8 ¼ cents higher to 1427 ½.  The new crop November contract settled 11 ½ cents higher to 1275.

Crop progress showed 19% of the crop is planted, up 10% from last week and 8% ahead of the 5-year average.

Wheat

July Chicago wheat finished the day 15 ½ cents lower to settle at 618 ¼.  July KC wheat finished the day 19 cents lower to settle at 757 ¼.  July spring wheat was 12 ¾ cents lower, settling at 791.

Winter wheat conditionsa re at 28% good/excellent, a 2% improvement from last week.

Spring wheat is 12% planted, up 7% from last week but 10% behind the 5-year average.  



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