The weather is forefront in our mindset. Yet, we’re reluctant to panic as there’s ample time for conditions to improve. We usually plant 80% of the corn crop in the April 20-May 10 window. The old euphemisms like “rain makes grain” might be applicable this year if we get the crop planted on time or the phrase “plant in mud and your crop will be a dud” might ring true. We just have to get the crops in the ground. The question is when.
There are some numbers of substance which are scheduled to be released next Friday at 11:00 am Chicago time; Prospective Plantings and Stocks-in-all-Positions as of March 1. There might be some skepticism over the planting numbers as the Heartland has been too damp and there is potential for delays………The stocks numbers might have a little more credibility and it typically is the report which gives wheat the most accurate estimation of the crop year as we’re the furthest from harvest and there’s less to inventory…………Typically, this is a wheat report where the utmost respect has to be given to the USDA and the Gospel of “even and open minded” be heeded!
Growing season is here and the campaign of 2019/2020gets serious. Keep an eye on the sky. We might be a little busier than usual on Sunday nights and Wednesday/Thursdays as we react to weather forecasts.
The information contained on this site is the opinion of the writer and obtained from sources cited within the commentary. The impact on market prices due to seasonal or market cycles and current news events may already be reflected in current market prices.
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