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GRAIN REPORTS:
Click Here for the 2024 Agricultural Report Calendar.
Weekly Export Inspections: Monday (10:00 am)
Weekly Ethanol Production: Wednesday (9:30 am)
Weekly Export Sales: Thursday (7:30 am)
USDA Drought Monitor: Thursday (7:00 am)
MORNING COMMENTS:
Friday April 26th, 2024
Next Monday (April 29th) is the last day for May 24 futures (Corn, Beans, & Wheat).
Corn -1
Corn futures were mixed today with limited upside movement. May 24 futures are a dime away from reaching its 50-day moving average of 4.51’6. December 24 futures are close to reaching its 100-day moving average of 4.79’2. Corn futures have gained around 7-9 cents so far this week. US corn news is limited. US planting progress should see a nice increase on Monday. Rail values in the Western US fell weaker yesterday. The 6-10 day forecasts for Brazil and Argentina are showing small chances for rain showers.
Beans -4
Bean futures are slightly lower this morning. May 24 futures are trading a few cents higher than its 10-day moving average of 11.55’2. November 24 futures are trading against its 20-day moving average of 11.72’4. Bean futures have gained around 6.5-10.5 cents so far this week. US bean planting progress should show a nice jump in Monday’s Crop Progress Report. The Buenos Aires Grain Exchange stated that Argentina’s harvest progress is around 25.5% complete.
Spring Wheat -1
Winter Wheat +1
Wheat futures were mixed this morning. Mpls July 24 and September 24 futures are trading above their 100-day moving averages this morning. KC July 24 futures are trading under its 200-day moving average of 6.60’6. September 24 futures are close to reaching its 200-day moving average of 6.68’4. Rain showers are moving across the Central/Southern plains this morning. The US winter wheat G/E ratings are expected to hold steady next Monday. US spring wheat planting progress should see a big jump on Monday. The weather forecasts for Russia are calling for hot and dry conditions during the next few weeks. The European Union decreased their 2024/25 wheat estimate to a new four-year low. French wheat ratings fell 2% this week to 62% G/E.
Hallie T
Crop Progress Report Apr 22nd
Corn Planted at 12% > 10% Avg
Soybeans Planted at 8% > 4% Avg
Spr Wheat Planted at 15% > 10% Avg
NOPA Soybean Crush for March
196.41 < 197.78 Est
Soy Oil Stocks
1,851 bil lbs > 1.792 Est
USDA Crop Report 4/11/24
Ending Stocks
Corn 2.122 > 2.102 Est / Mar 2.172
Beans 340 > 317 Est / Mar 315
Wheat 698 > 690 Est / Mar 673
Soybean Exports Cut 20m
Corn Ethanol up 25m
Corn Food/Seed/ Ind. up 25m
World Ending Stocks
Corn 318.3 > 316.7 Est / Mar 319.6
Beans 114.2 > 113.7 Est / Mar 114.3
Wheat 258.3 < 259.1 Est / Mar 258.8
Argentina / Brazil Production
Brazil Beans 155 > 151.7 Est / Mar 155
Brazil Corn 124 > 121.75 Est / Mar 124
Argentina Beans 50 < 50.48 Est / Mar 50
Argentina Corn 55 < 55.6 Est / Mar 56
CONAB Brazil Production Est. 4/11/24
Beans 146.52 MMT < 146.86 MMT Feb
Corn 110.96 MMT < 112.76 MMT Feb
Safrina Corn 85.62 MMT < 87.35 MMT Feb
Dr. Cordonnier Crop Estimates
Brazil Corn 112 MMT
Brazil Beans 147 MMT up 2
Argentina Corn 50 MMT down 3
Argentina Beans 51 MMT
West-Con has Three Shuttle Loading Locations
APPLETON, MN
Hwy 119 S 458 Munsterman St.
Appleton, MN 56208
Scale Ext 1401
Elevator has 3.45 million storage
110 car shuttle loader
Twin Cities & Western
UP, CP & BNSF Railways
HOLLOWAY, MN
520 County Rd 9
Holloway, MN 56249
Scale Ext 1217
Elevator has 8.6 million storage
110 car shuttle loader on BNSF
TWIN BROOKS, SD
47229 US Highway 12
Twin Brooks, SD 57269
Scale Ext 1305
Elevator has 8.3 million storage
110 car shuttle loader on BNSF
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