May 14th, 2019 Commentary by Ashton

It’s a beautiful morning and markets are higher across the board! U.S. planting delays combined with a decent technical close on Monday caused markets to rally sharply overnight. Maybe it’s time to put some weather premium back in the markets.

Interesting note: usually we have 54 million corn acres planted by this date. This year we have 27.8 million planted acres based on the 92.8 million acre intentions. More talk about prevent plant acres increasing.

Rains return to the western Corn Belt Friday, eastern belt has chances of rain in 5 of the next 10 days. Overall, it stays cool after a couple of warm days this week. Have a great day and stay safe as planting picks up!

July/Sept Spreads:
Corn: 8 ½ carry.
Soybeans: 12 ¾ carry.

© 2019 CHS Inc.