- STATELINE COOPERATIVE’S AFTERNOON COMMENTS APRIL 19th
- Corn North Burt: up 7 @ $ 4.43
- Futures closed the day out 4-7 cents higher with support from the wheat markets and soybeans. Barge freight looked to level out today and trading weaker this week. Several rail markets showed strength into the end of the week. Rains over the last 7-14 days have slowed field worka in a good portion of the midwest. The 6-10 day calls for continue rains in those same regions. Brazil’s safrinha crop is expected to see drier anomalies in the northern/central states, while the southern states are going to see above-average rain. We’ll watch next week to see what updates to Argentina’s corn crop look like as they are plagued by disease.
- Closes: May up 6’6 at 433’4, July up 6’6 at 443’0, September up 6’2 at 451’2, and December up 6’2 at 466’2.
- For the week: May down 2 cents, July down 4’2 cents, September down 5’5 cents, and December down 5’6 cents.
- Ck24/cn24 closed at 9’2 carry, it traded as strong as 8’6 carry.
- Soybean: up 16 @ $10.92
- Soybeans were able to find some buying buyer near yesterday’s lows and rally back 8-17 cents. Soybean oil was able to find strength today, up 17-28 points, and meal was up 4.7 to 5.8/ton. For the week, May board crush values were up 5.8 cents, closing at 94.3 cents. US news was mostly quiet this week, some crush plants were looking for coverage but basis held steady for the most part. Argentina is seeing a much slower harvest pace than the average, the Buenos Aires Grain Exchange reported it at 10.6% complete vs. 36% average.
- Closes: May up 16’2 at 1150’4, July up 16’6 at 1165’4, August up 15’4 at 1166’6, and November up 11’6 at 1161’0.
- For the week: May down 23’4 cents, July down 21 cents, August down 17’6 cents, and November down 15’2 cents.
- May meal was up 5.7 at $343.7 and soybean oil was up 26 points at 44.38.
- Sk24/sn24 was down 0’4 at 15’2 carry and sx24/sf25 was up 0’6 at 12’0 carry.