- Grains are mixed in the overnight session
- Wheat and corn are 4 1/2 cents higher
- Beans near the break are down 4 cents
- For the week corn is higher by 32 cents, wheat if higher by 35 cents
- Heavy rains fell overnight from NE/southeastern SD through IA, and northern IL and IN. Radar is still active this morning mostly in Iowa, with that northern action only increasing over the next 24 hours.
- For the week ended May 9th, U.S. All Wheat sales are running 9% ahead of a year ago, shipments up 4% with the USDA forecasting a 3% increase on the year.
- U.S. Corn sales are running 11% behind a year ago, shipments 8% ahead with the USDA forecasting a 6% decline on the year.
Chart of the Day
Weekly old-crop (2018/19) corn export sales did edge out expectations and last week at 21.8 million bushels on the seven days ending 5/9, though that was barely over half the comparable week last year. Cumulative sales of 1846 mbu are now running 225 mbu behind last year’s pace, with the USDA leaving the year-over-year total corn export estimate steady last week at a –138 mbu. Actual shipments remain 111 mbu ahead of last year’s pace, though that advantage has been cut by over 200 mbu over the last three months