Weather concerns continue to be the topic in the grain market. From everything I am hearing, it looks like we will remain wetter and cooler here in the US through April, then turn warmer and drier in early May and on into the critical stages of growth during June and July. Unfortunately the forecasters are calling for more snow in many of these areas (over foot in some locations). Therefore you have to believe there will soon start to be talk and headlines circulating about corn seed cancellations. What may be tougher for the bears to battle though is the fact producers in the Delta are now thinking corn acreage could be reduced by 500,000 plus.
The word circulating is that some of the early planted acres in the South have failed to germinate. With many producers looking at an April 25th "final planting date" for crop insurance, I am starting to hear a lot more chatter about some producers simply taking "preventive plant."
To receive my free daily report click the link below.