Market Movers

Planting Picks Up

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

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June Brings Acreage Talks

Funds bought 31K, now short 71K or 21% of record, trade likely to pre buy the acreage report

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Will wee see Friday buying ?

NOAA issued new 3 month outlooks yesterday which has slightly above average temps for most growing areas, heat to the far south and mostly normal rains over growing areas

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Crush very disappointing yesterday, possible less aggressive pre buying of planting report

Yesterday’s crush report was a 7 month low of 166 mil bu (trade expected 183 mil bu)

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Funds Seen Quiet

Planting fears continue, CONAB raises BRA production, Nov resistance in the 1210 – 1225 area

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Funds Cover 116K Contracts

Funds cover 116K shorts, morning maps don’t have quite as much rain as Friday’s maps -615

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A Look Into New Crop

USDA will post their monthly supply and demand report at 11:00 CST

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Fund buying may have slowed, forecast improves

Fund buying may have slowed, forecast improved days 1 – 8, Friday’s report likely bearish

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Spring Wheat and Beans See Quicker Planting

Planting 25% (21% ave), clearing in forecast, first estimates for new crop carryout are high

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Rains Clear After This Week

China back from holiday, forecast offers clearing, funds somewhat surprisingly quiet

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Overnight Follows Yesterday's Move, Signs of Short Covering

Yesterday did show signs of fund short covering although this time the open interest report doesn’t support that, it is possible for funds to cover shorts on higher OI, just much less likely

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Rains totals increased this morning

Rains totals increased on this morning’s 1 – 5 day map, exports may be expected strong today

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Rains Lighten Slightly, Ethanol Expected Poor

Rains are not quite as heavy as was seen on yesterday morning’s maps but will keep a fair number of planters parked throughout this week where rains are expected in NE/KS/TX/MN/IA/MO/WI/IL

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Planting Picks Up, Wheat Ratings Fall

HRW GTE down 1% to 51%, spring wheat planting 34%, largest planting gain in 9 years

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Corn Sees Short Covering While Resistance Holds

Friday’s COT report showed funds covered 41K shorts, the most since late February, they still have plenty of short positions to eventually cover still being short 239K or 70% of record

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Rains Move In

Rains moving in today, 6 – 10 day map has moderate rains but some areas will dry out

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Exports expected poor again, for beans this has been a problem since December

Last week’s exports were strong at 749K but trade is still going to assume a poor export report as 13 of the last 16 weeks have all been disappointing, export demand for US beans has been an issue

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Corn Running Into Some Resistance

July now right at multiple resistance levels which could slow the recovery for now

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Planting Remains On Track, Wheat Ratings Dive

Planting 15%, average is 10%, GTE down 5% to 50%, some helpful HRW rains in the forecast

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Funds back to 98% of record short

Funds back to 98% of record shorts selling 29K, July chart still in a clear downtrend

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Will Beans See A Profit Taking Friday After A Weekly Loss?

July has fallen 37 ¾ through yesterday, at least some Friday profit taking is possible

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Will Soybeans See Improved Exports?

Overnight supplying pressure but exports today should see at least a small improvement

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Planting Gets Going, Open Interest Declines

Planting at 6%, average is 5%, another setback on open interest decline suggests cash selling

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Funds Seen As Light Sellers

Friday’s COT report showed funds as light sellers, most resistance still likely as cash selling

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Trade Revaluates USDA Numbers

The report raised carryout 25 mil bu, trade reacted as if expecting worse, CONAB mostly quiet

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