Kleist Comments

MORNING GRAINS 5/07/13
MORNING GRAINS 5/07/13

MORNING GRAINS 5/07/13

Corn:

Exports: So.Korea buys 69,000t opt/org. for Sept.

Comments: Plantings at 12% complete vs. 5%week and vs. 47% avg.; reportedly in 1984 plantings at 10% but yields were only of slightly from trend; still talk USDA will lower expected yields on Friday’s report; open interest rose 3,750 even as May/Jun drop 3300 (Dec. up 3839), volume moderate.

SOYBEANS:

Exports: None Visible.

Comments: Plantings 2% vs. 12% avg.; China futures lower on general weakness; open interest fell 4,550 led by July off 5,224, volume moderate to light-side.

Wheat:

Exports: None Visible.

Comments: Winter wheat conditions fall to 32% gd. /excel dn. 1%; spring plantings 23% vs. 50% avg.; parts of Russia seeing lower rains and higher temps.; open interest rose 2,500 led by Dec. up 3830 amid moderate volume.

Kleist Comments

This is John Kleist, of Kleist Ag Consulting.
Questions? Email me: johnwkleist@sbcglobal.net

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