With wheat crops slowed by a week or more in some areas of the soft red winter double-crop region, growers will be hoping for rapid head drydown to get in the extra soybean crop.
The USDA export sales report for the week ending May 8 should be viewed as bullish for corn and soybeans but bearish for wheat, said DTN Senior Analyst Darin Newsom.
Smaller elevators may be safer for farmers, according to one official from the Missouri Department of Agriculture, because they usually take fewer chances on the futures market. But larger elevators that play the futures market more extensively tend to have more assets, which provide financial security for farmers in the event of closure.
Mainly dry weather is in store for the Midwest through northern and central Plains Thursday. There will be scattered very light showers in the western and southern areas. » More DTN Weather Commentary
Minnesota Governor Tim Pawlenty on Tuesday signed legislation increasing the state’s 2 percent biodiesel mandate to 20 percent by 2015, according to information on the governor’s website.
