Market Update 4/21

Arlan Suderman is back with some updates on what is happening in the ag marketplace for Monday, April 21.

The commodity sector overall saw liquidation overnight, including grain and oilseed prices.

USDA will update its weekly crop progress data at 3 p.m. CDT this afternoon, with expectations that it will show additional deterioration in the winter wheat crop and slow corn planting progress.

Temperatures cool early next week, including chances for a frost in the Upper Midwest and central Plains.

The weekend was drier than expected in the Plains, with about half of the belt remaining extremely dry.

Corn prices break lower overnight on expectations that planting progress will improve.

Soybean prices erase early gains, turning lower overnight, after failing to test recent highs.

Wheat prices plummet overnight on negative chart signals and skepticism that problems in the Plains belt will result in a short crop.

And the market at a glance:

mkt421

 

waterstreet

Arlan Suderman is the Senior Market Analyst with Water Street Solutions, an agricultural consulting firm with offices in Illinois and Nebraska. Serving clients in 13 states, Water Street Solutions helps farmers with marketing, insurance, financial, estate and business leadership needs. To learn more, call 866-249-2528 or visit www.waterstreet.org.

All opinions expressed in this commentary are solely those of Water Street Advisory. This data and these comments are provided for information purposes only and are not intended to be used for specific trading strategies. Although all information is believed to be reliable, we cannot guarantee its accuracy or completeness. There is significant risk of loss involved in commodity futures and options trading and may not be suitable for all investors.

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