Market Update for May 12, 2017

Bob Burgdorfer says it's a weather market. (audio)

Corn closed higher for day, week; beans and wheat lower for day, week.

Crop report on Wednesday was big news for the day and then it was back to a weather market.

Trade will be watching to see how much planting gets done with weekend. Five year average for corn at that date is 70% and it's 32% for soybeans. Last week it was 46% corn planted and 14% soybeans.

CFTC report said funds were net long in Hard Red Winter Wheat.

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish