Wake Up Call Allendale Advisory Center: Grain markets are higher as South American crop loss estimates climb. The US Dollar, crude oil and stock indices are under pressure providing a tailwind for Ag markets.
Corn planting progress is 45% complete compared to trade expectations of 47%. The 5 year average planted on this date is 30%. Soybean planting is 8% completed versus 8% expected and 6% average. Spring wheat seedings are 54% complete versus 69% last year and 39% average.
Winter wheat crop conditions were up 2% to 59% good/excellent. Trade was expecting 60% good/excellent.