Market Information

Here are the highlights from Brian's interview with Hoosier Ag Today this final week in April!

• Planting progress is off to a “good start” in the West, but is more challenging in the Eastern Corn Belt due to wet conditions.
• Bean futures have recovered and last week reached the highest price since the third week of February, although farmers should be careful to avoid price prediction. 
• Important: This is not a return to a bullish market; still looking at old-crop bean carryout supply in the U.S. approaching 400 million bushels
• Brazil/Argentina soybeans set to take over the export market later this spring and summer
• We are awaiting the USDA Crop Progress report on Monday afternoon (3:00 pm CDT release time)
  • Planting pace for beans could be near last year’s record of 17%
  • Planting pace for corn could be near the average
• Old-crop corn exports are strong, but new-crop planted acreage may exceed the March estimate of 95.3 million acres, so flexibility is the key to the growing season.