News & Publications
May 9, 2023 |
Markets react to swift planting progress
Silly season gears up as planters roll steadily across most of the U.S.
Yesterday’s crop progress showed corn planting at a sizzling pace for much of the corn belt, while a few northern states trail the average. As we enter key production timeframe for U.S. crops, we have to remember that supply is one piece of the ‘marketing puzzle.’ Bulls continue to hang their hat on uncertainty in the Black Sea and that these crops are far from the finish line. While bears point to stiff export competition, dwindling demand and are betting on the U.S. farmer to do what they do well, raise as many bushels as they can.