Soybeans up 4¢ this Friday, May 17, 2024, in the US

Published May 21, 2024

Tridge summary

The article reports on the current state of the agricultural market, highlighting changes in futures prices for corn, soybeans, wheat, live cattle, feeder cattle, and lean hogs. It discusses the challenges farmers are facing due to fluctuating weather conditions, which have impacted crop planting and growth. An oil refinery attack in Russia, affecting a major grain and energy commodities export port, has also been mentioned. Additionally, the article provides updates on the prices and trends in crude oil, the U.S. Dollar Index, and futures for the S&P 500 and the Dow.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

July corn is down 1½¢. July soybeans are up 4½¢. CBOT wheat is down 2¾¢. KC wheat is down 3¢. Minneapolis wheat is down 5¼¢. This morning the Northwest Iowa-based Commstock Report painted a picture of the difficulties the weather is giving farmers right now. “When spring began early, starting in February this year and fieldwork progressed in March, one would have thought that we would not be fighting to get crops in as we are yet in mid-May,” says the report. “We have gone from drought last fall to waterlogged this spring. We have gotten half of our crop here planted in April and are still waiting on the opportunity to plant the second half. We hear of isolated instances where farmers have planted nothing yet. Random planting progress is being made wherever conditions allow. “Assuming that we get the second half of our crops planted soon, we will essentially have two very different crops given the time lapse between them. Pollination will get spread out during the summer. We have ...
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