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On the Grains
Grain prices are mixed in overnight trade. Russian wheat suffered another round of freezing temperatures over the weekend and quality issues are a growing worry in Europe. But today’s early trade will mostly be factoring in the planting progress reports and latest condition ratings for wheat. The KS wheat tour gets underway today and reports from that will be closely watched all week.
 
After the close, we got the planting progress report and corn came in at 49%. That was about what was expected but now 5 points behind normal and 11 points slower than last year that was at 60% by now. The eastern states are most responsible for the slippage from normal. Missouri leads the Corn Belt at 72% while Indiana leads the laggard states at only 20% planted.

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