Hedge Plus Reports

This year's U.S. spring wheat crop is essentially planted in Idaho, South Dakota, and Washington. And by this time next week, it should be just about fully planted everywhere else. Montana is the only state trailing its 5 year average and just by 1%

Many states held steady and there was very little improvement noted for winter wheat on this week's crop progress report. That resulted in another 1% decline of the total crop rated good to excellent, now having fallen to 26%. Just 3 states, MO, NC, and TX showed improvement

Soybean planting drives further ahead to 79% complete as of 5/24. Michigan and Ohio are the only states behind their 5 year averages and both by narrow margins. Michigan was one of the biggest advancers in the past week along with South Dakota and Wisconsin. Emergence now at 49%

U.S. corn planting surged another 10% with the overall crop 86% planted as of May 24th. Michigan, North Dakota, Wisconsin, and Colorado were among the states making the largest jump. 60% of the crop has emerged, 2% ahead of the 5 year average for this time of year

Selected grain contracts at settlement...

Recent Midwest rains have lowered some risk for now as energy prices continue to retreat and weigh down grain prices...

July CORN: down 5¾ cents to $4.57½

July SOYBEANS: down 10½ cents to $11.86

July WHEAT: down 10¾ cents to $6.35½

The most active hog contract once again gravitated towards $100/cwt today, maintaining a lengthy trend...

July hogs fell 27.5 cents to end the day at $100.12½

Export inspections were up across the board for corn, soybeans, and wheat for the week ending May 21st. Corn totals were near the high end of expectations while soybean inspects were just above the high end of predictions. Wheat totals were up 35% versus the prior week