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On the Grains
Grains are steady-to-mixed in overnight trade to start the week. It was a very stormy weekend with over 100 tornadoes, frequent hail and widespread rain over much of the Midwest and Delta, that will slow planting considerably. Yet the pace was brisk through the early part of last week so today’s planting progress report should still show planting on pace with normal because we were a little ahead of normal the prior week.
Wheat was the clear leader in the grains last week on the unexpectedly sharp drop in wheat condition for HRW that more than offset the best ratings for SRW in decades. We’ll likely see further declines in today’s report, the rains have missed up to 40% of HRW wheat in western KS, the OK panhandle and W. Texas. Globally, conditions for wheat continue to deteriorate in southern Russia, eastern Ukraine and parts of western and southern Australia.

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