Grain futures see early strength on concerning crop condition and progress reports from USDA

Grain futures had early strength this morning on concerns the crop is not going in fast enough for corn planting, along with wheat conditions continuing to erode.

Heartland Market Talk
Heartland Market Talk
Grain futures see early strength on concerning crop condition and progress reports from USDA
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In today's Heartland Market Talk, we went through the numbers that carried grain futures sharply higher overnight, but were cut off at the passĀ  with the Canadian planting intentions data, showing larger wheat plantings expected this year. Simultaneously, they lowered their canola acreage which pushed soybean oil prices sharply higher today. Corn planting is getting to a pressure point, where May 25 could be an issue in North Dakota with preventive planting date seeing possibly more than 1/2 a million acres enrolled.

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