Prices updated as of 6:55am CDT.
Good morning!
Markets are continuing yesterday’s rally this morning, largely on global supply jitters.
Feedback from the Field
Were you able to dodge showers over the weekend and keep your planter rolling?! Share your insights with us in our ongoing Feedback from the Field survey!
Feedback from the Field is an open-sourced, ongoing farmer survey of current crop and weather conditions across the Heartland. If you would like to participate at any time throughout the growing season, click this link to take the survey and share updates about your farm’s spring progress. I review and upload results daily to the FFTF Google MyMap, so farmers can see others’ responses from across the country – or even across the county!
Soybeans
Global soybean supplies have taken a beating this week, but U.S. prices have been a major benefactor of those market jitters. U.S. soybean futures rose $0.04-$0.12/bushel overnight following yesterday’s rally, lifting nearby May24 futures to $12.02/bushel overnight, reflecting strength in the cash market yesterday as countryside farmer sales to end users slow during spring planting season.
Most actively traded Jul24 futures cleared the $12/bushel benchmark overnight, trading at $12.10/bushel this morning. New crop Nov24 futures are closing in on that target this morning at $12.945/bushel at last glance.
Soymeal prices surged nearly 5% higher yesterday and are trading $4-$10/ton higher this morning. Nearby May24 soymeal…
