5/5/2025 8:00 am

Mostly dry weather this week in the Midwest will have a lot of areas finishing up with planting by end of the week. Nationally this afternoon estimates on planting progress are 45-50% for corn, 30-35% for soybeans, 50-55% for Spring wheat.

Friday's CFTC report showed the funds continue to liquidate their long in corn to less than 70k contracts today while increasing their shorts in wheat to over 120k contracts in Chicago, short over 67k in KC and short almost 20k contracts in Mpls.

As for trade/tariff headlines....appears US and China are closer to starting talks but nothing concrete yet. Trump Administration said they would announce some new trade deals with other countries later this week. Look for weaker trade today with favorable US weather the main driver.

Chart below is a seasonal chart, and would show you if you are needing to move some corn in the near term, this week might be a good week to do so.. The market has a tendency to work lower through May and then we see the June rally..  If all the corn gets planted this week, may not be much of a reason to rally unless we see things get really dry..  

 3/11/2025