U.S. and the World

In the United States planters are rolling, but mainly still in the southern states of Texas, North Carolina and Tennessee. As of April 14, 3% of U.S. corn had been planted, with the five-year average being 5%. It’s early, for sure, as inclement spring weather has planters at bay. Planting progress is less of an issue as it used to be, as modern technology helps get this crop in quickly once the weather breaks. Also too, Mother’s Day in May is traditionally a litmus test for when the market might notice planting progress. With ending stocks onerous for both corn and soybeans, prices have been moving down. However, there is a world of production risk in front of us.

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