Category Archives: Weather
Good morning. Corn and wheat are slightly lower this morning as damage to wheat from last night’s freezing temperatures in the Plains appears to be light and extended forecasts look good for a normal planting pace during the balance of April. Soybeans are firmer on renewed focus on the very tight domestic supply The tense Ukraine situation is lending support to commodities. The Ukraine acting president has ordered tanks to move closer to areas where pro-Russian insurgents have recently taken over government buildings. Additionally, the Ukraine National Bank raised its lending rate by 7% to 14.5% in an effort to control inflation and support its currency which may limit Ukraine grain sales. Back in the U.S., temperature for most of the Midwest are forecast to be normal to above normal for the final 10 days of April. Precipitations looks to be normal to above normal. The NOPA Crush report for the month of March will be released this morning. Traders are looking for the crush to be near 145 million bu. Markets look to remain choppy with planting season beginning and the Ukraine tensions continuing.