WEEKLY SNAPSHOT MAY 20th, 2024 IS NOW POSTED!

Quick Studies

on the go? check in with our fundamental quick studies and morning market movers.

Rain Makes Grain?

Weather maps not clear but also not a wash out, morning 10 day maps suggest planting should easily pass 75% on Monday which is the level trade switches over to a summer mindset (rain = grain)

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Planting Picks Up

Planting picked up pace at 70% compared to 71% ave, closer to average than seen last week

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Crop Progress suggests aggressive corn planting last week.

Nationwide corn planting advanced from 49% complete to now 70% over the past week. The expectation was 68%. This was quite an effort. It was the second best planting gain for that week in 11 years.

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Corn and soybean basis have widened.

The first two weeks of May generally show a wider divergence in basis between tight supply years and heavy supply years. In heavy supply years basis generally does not appreciate into the later part of the marketing year. That seems to be the case for 2024.

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Weekly Snapshot

Join us weekly in our Weekly Snapshot. Snapshot videos are posted by noon every Monday. Designed to keep you ahead of the markets.

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