Wet conditions continue across our trade area and the corn belt alike, pushing planting back, yet we have failed to see an improvement in corn futures. It is likely that a weather driven improvement may not surface until we near the end of the month or move deeper into June, when the reality of how much corn was actually planted starts to sink in. As of Thursday, May 9th, soybeans were at their lowest levels since 2008. The balance sheet for old crop soybeans has remained largely focused around exports. With a trade deal with China becoming further away, the market has adjusted for larger stocks once more. Given all these market conditions, we may be able to see a recovery in corn, but the future of soybeans is beginning to look even more bleak.
Though the markets and weather have failed to cooperate with us, there are still different marketing tools that can help you set yourself up for success. Work with your
to find the best strategies for your operation and make the most of what the market is willing to give you.
Have a safe planting season!