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Daily Ag Direction 4/30/24Good Tuesday Morning! Wheat markets setting back overnight and into the morning session. The crop condition report out yesterday afternoon showed a 1% decline to 49% G/E for US Winter Wheat. HRW conditions fell notably in Kansas, Oklahoma, Colorado and Nebraska with 31% of Kansas crop now rated poor/very poor. This was a 5% increase from last week (26%). Dry areas of Russia have a chance for showers next week but the region wil lonly see limited relief at that point. The corn market didn't see much action overnight and is quiet this morning. Midwest farmers were busy planting corn and soybeans last week ahead of the rains. Corn planting progress nationally was pegged at 27% complete which is right in line with estimates and slightly above average. Weather forecasts look good for another week of planting, so unless that changes don't look for corn futures to move much. July KC Wheat -7.5 @ $6.43
July Corn -.75 @ $4.485 Dec Corn -.75 @ $4.72
July Beans -12.5 @ $11.695 Nov Beans -10 @ $11.68
Aug Feeders -1.925 @ $257.70 June Live -1.325 @ $175.825
Please reach out to your CEA Risk Management Advisor if you have any questions. Have a great day! |
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