Hedge Plus Reports

Selected grain contracts at settlement...

Further liquidation of longs today as the market anticipates good initial corn and soybean condition ratings...

July CORN: down 2¾ cents to $4.44

July SOYBEANS: down 6 cents to $11.80¾

July WHEAT: down 1¾ cents to $6.08¾

The latest screwworm scare, just 31 miles from the U.S. border with Mexico grabbed the attention of cattle market traders today...

August live cattle picked up $1.55 to $240.60 while August feeders jumped $3.12½ to finish at $351.55

No surprises in this week's export inspections report from the USDA. Corn, soybean, and wheat export inspects all fell within anticipated ranges. Corn and wheat totals were up narrowly from the week prior while soybean inspections fell from the prior week but remained in range

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