Closing Remarks

April 28, 2017 

Provided by Matt Lukac, Sunrise Grain Solutions Advisor

Corn- Heavy deliveries as today was first notice day for May futures and what looks to be a window of dry weather next week in some forecasts.  Most basis has rolled to the July futures.  Don’t be alarmed it went at the spread of 7 cents on corn and 11 on beans so the cash price remained neutral with futures movement.
Monday’s corn planting progress estimated at 28%; up from 17% LW but 15 points off the 2016 pace and 6 or so behind the 5-year average. Soybean planting expected to rise 5 points to 11%, 4 points ahead of both last year and the 5-year average
BA Exchange keeps Argentine production estimate at 56.5 MMT; says final total may increase as record yields more than offsetting flood damage in some areas.  32% of the crop is now harvested 
Overnight freeze in Kansas and continued cold, wet concerns in the spring wheat region helped support all wheat today
If you still have unpriced old crop corn, consider placing target orders above the current market.
Call your Sunrise Grain Solution Advisor to place your orders
BUNGE BELLEVUE will be shut down for repairs May 1st thru May 9th

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