Grain Exchange – 5-25-2021
Planting progress for corn is coming along at 90%, while bean planting is at 75%. The market was looking for 90% corn and 80% beans. Markets are responding according with corn down and beans up. Winter wheat conditions are at 47% good/excellent versus 50% expected. Spring wheat planting is 94% completed and conditions are 45% good/excellent versus expected 57%.
Corn emergence process overall came in at 64% versus average at 54%. Wisconsin is 58% emergence versus the average at 31% and last week 24%. This pace matches 2015 as the fastest pace since 2012. We have not seen sales from China this week. Corn planting in Ukraine is at 92% while Russia is at 90%.
Beans continue to be all over the place. Make sure to place offers and let the market work for you. Basis on beans continues to be under pressure with processors. Cargill and Ceres Global both announced new canola plants being online in 2024 to process at least 1 million metric tons. Brazil is on pace to set a new export number for May on beans.
Landmark Countryside is offering free DP on new corn/bean bushels coming to our locations. Please talk to the grain marketing specialist for more details. Make sure to not let this market get away from you or stop you from selling. Prices are still good now and in the future.
Have a great day and be safe