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Senior Contributor

B-Team's back for Tuesday, April 29

Guess the question's been answered! Beans are in the lead, and ironically, it's not the planting weather (beans are just 1% off the normal pace, but that's only 3% versus 4%), but demand abroad. And, analysts say that's likely to keep up for at least a while. So, will beans shoot the moon if these planting delays last into the late spring when everybody would normally be planting beans? 

 

So, we've got a lot of bullish news. Will we see things turn around later this week if prices move too much higher? 

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Here's Bill's first report from the Kansas Wheat Tour. If you all have any questions for him while he's out on the road with them, let me know and I'll relay 'em to him!

 

JC

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Good mornin'! Well, it's a soggy sucker here this morning. It'll sure be interesting when the Drought Monitor comes out Thursday, because it sounds like we're getting close to catching up to normal moisture levels around here. Sure doesn't look like much field action's going to happen for at least a few days.

 

So, are these overnight gains going to stick today? Al Kluis says this morning that early expectations are for higher prices at least for a while, based mostly on yesterday's USDA report that shows slow planting progress. And, Al says he's watching the weather in the northern Plains and Corn Belt where planting progress could fall behind the most in the next week or so. So, that could be some feed for the bulls.

 

And, the Kansas Wheat Tour's kicking off today. We've got an editor, Bill Spiegel, riding along with them for a day or 2, and he'll have some reports for us soon (he sent one in that I'll get on the site here shortly). Think the trade will pay much attention to the tour? 

 

Anyway, we're starting slightly higher for corn, beans and wheat. The B-Team will try to keep ahold of things today. So, what the heck's everybody doing to pass this wet, soggy time before you can get rolling?

 

More in a few...

 

Jeff

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Senior Contributor

Re: B-Team's back for Tuesday, April 29

It is wet here too so I will be catching up on bookwork.

Saw the first field work done around here yesterday.

Neighbours were still going late last night.

Expect they were planting Alfalfa for their dairy herd.

Another was working ground in afternoon and they do not grow hay, do not know if they would have planted or not.

 

As for the wheat tour the expectation of variability in wheat would describe our soft red crop around here.

Planting date made a big difference.

Field across road from me was partly planted and then rained out.

Not sure they will leave the part that was planted later or not, it looks poor from the road.

Lots of winterkill spots in even the 'good' fields.

 

Expect roundup will be used in a lot of fields to help the wheat transition to corn or soys.

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Advisor

Re: B-Team's back for Tuesday, April 29

Jeff, your comment about "getting close to catching up to normal moisture levels around here," spurred be to do a little research.  Average rain fall for April-Des Moines is 3.86"- we are at 4.61" here on the farm.  Year to date average is 8.44" we are at 7.1".  So, yes, we are starting to catch up.

Just doing odd jobs around here for a while. Some tiles are starting to run, but not all. 

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