Wheat futures closed slightly lower in Chicago and Minn, mixed in K.C. but off their session lows. Wheat traded lower in the overnight session and opened lower and traded lower for most of the session. Trading was relatively light. Export inspections came in at 17.7 million bu for wheat including 3.1 million bu for Soft White. Corn inspections were 28.3 million bu and soybeans inspections were 73.2 million including 24.5 million bu off the PNW. Corn closed slightly higher after trading lower for most of the session also. Soybeans closed lower. After the close the Weekly Crop Progress Report showed corn harvest now 31% complete vs the 5 year average of 53%. Soybean harvest is now 53% done vs the average of 66%. Winter wheat planting is 76% finished nationwide which is right at the 5 year average. Locally the forecast is calling for a good chance for rains in our area over the next 5 days. Keep your fingers crossed.
Odessa Seed Plant Hours Mon - Fri 7:30 am to 3:30 pm
Harrington Seed Plant Hours Mon - Fri 7:30 am to 4:00 pm Saturday by Appointment
Market hours: AM 9:00-11:10, PM 3:00-4:30 No PM market on Fridays No PM Hard Wheat Markets
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There was relatively limited reaction Tuesday from commodity groups and lawmakers about USDA's announcement to roll out the Actual Production History yield exclusion for crop insurance. Still, anyone who has some total crop collapses in their cropping history could see some benefits -- at the potential cost of higher premiums for that extra protection level.