The July corn futures contract closed at a new high of $5.80 1/2 Monday,
while the DTN National Corn Index closed at $5.78 Friday, the highest levels
for both in nearly eight years. As a result, basis levels are uncommonly narrow
for this time of year, which DTN analysts say could indicate corn supplies are
tighter than USDA estimates.
BMarket Approaches $6 Corn
Cold weather could threaten crops already planted, and agronomists are
suggesting farmers take a wait-and-see approach to further planting for the
next few days.
BWeather Gives Planting Cold Shoulder
U.S. corn was 8% planted and soybeans were 3% planted as of Sunday, April
18, USDA NASS reported on Monday.
FUSDA Weekly Crop Progress Report
The Federal Biscay, the first oceangoing vessel of the 2021 maritime
shipping season, arrived in the Port of Duluth-Superior on Sunday, April 18.
4^Cash Market Moves
The spring 2021 DTN/The Progressive Farmer Agriculture Confidence Index is
124, solidly in optimistic territory and up 30 points from spring 2020, but
down 22 points from the December survey.
BAgriculture Confidence Index Results