Oils are trending lower
Plantings of corn are at 68% planted versus 50% a week ago.
Plantings of soybean are at 15% planted, fastest pace in 10 years.
Rumors are that China has over-bought on beans.
The outside markets are down hard today, providing peripheral pressure for ags today. In lieu of the
outsides, this has been a pretty insightful day for Ag direction. We are quickly attempting to find
our comfort highs and lows. Message here is that though we may ultimately move lower, we will
still have to verify that we have the crops to do it. Weather and flooding in the midwest will factor in this week.