Written Commentary
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NASS Crop Condition Ratings
US Winter Wheat is 45% Good/Excellent vs. 55% Last Year. (nationally down -2% G/E from last week) Illinois winter wheat crop conditions suffered the worst decline week-over-week with a change of -11% good/excellent. Oklahoma and South Dakota both lower as well.
Planting Progress
US Soybeans are 8% Planted vs.the 5-year average of 5%.
Soybean Planting vs. Pace shows Ohio and Kentucky behind pace, but overall ahead of schedule.
US Corn is 12% Planted vs. the a 5-year average of 10%.
Corn Planting vs. Pace
Illinois, Iowa and south are behind pace planing corn this year due to heavy rains.
Calendar Spreads and Cost of Carry
Spread | Last | Chg | Full | % of FC |
CK25/CN25 | -8 1/4 | – 1/4 | -21 1/4 | 39% |
CN25/CU25 | 33 1/4 | +1 1/2 |
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SK25/SN25 | -12 | – 3/4 | -27 | 44% |
SN25/SQ25 | 3 3/4 | +3/4 |
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SN25/SX25 | 15 3/4 | +1/2 |
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MWK25/MWN25 | -14 | -1 | -20 1/2 | 68% |
WK25/WN25 | -13 3/4 | – 1/4 | -15 3/4 | 87% |
KWK25/KWN25 | -13 | – 1/2 | -16 | 81% |
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Corn May-July 25 Spread Chart
Soybeans May-July 25 Spread Chart
Minneapolis Wheat May-July 25 Spread Chart
Chi Wheat May-July 25 Spread Chart
KC Wheat May-July 25 Spread Chart
Futures Settlements & Technicals
Symbol | Close | Chg | High | Low | Support | Resist | 20-Day | 50-Day |
CK25 | 481 3/4 | – 1/2 | 487 1/4 | 481 1/4 | 465 | 490 | 468 1/4 | 476 |
CN25 | 490 | – 1/4 | 495 | 489 1/2 | 475 | 500 | 475 1/2 | 482 1/2 |
SK25 | 1029 1/2 | -7 | 1043 3/4 | 1029 | 1026 | 1050 | 1018 | 1026 1/4 |
SN25 | 1041 1/2 | -6 1/4 | 1054 3/4 | 1040 3/4 | 1030 | 1050 | 1030 1/2 | 1039 3/4 |
SQ25 | 1037 3/4 | -7 | 1051 1/4 | 1037 | 1035 | 1050 | 1026 1/4 | 1036 1/2 |
MWK25 | 600 | -6 1/4 | 608 3/4 | 596 1/2 | 600 | 620 | 596 1/4 | 608 1/2 |
MWN25 | 614 | -5 1/4 | 622 3/4 | 611 | 611 | 630 | 611 | 622 1/2 |
WK25 | 538 1/2 | -10 1/4 | 552 3/4 | 537 1/4 | 535 | 563 | 540 1/4 | 560 1/2 |
WN25 | 552 1/4 | -10 | 566 1/2 | 551 1/4 | 552 | 580 | 554 1/2 | 574 1/2 |
KWK25 | 550 3/4 | -6 3/4 | 562 | 549 3/4 | 550 | 570 | 561 3/4 | 581 1/4 |
KWN25 | 563 3/4 | -6 1/4 | 575 | 562 3/4 | 560 | 585 | 575 1/4 | 594 |
SMK25 | 292.9 | -2.70 | 297.9 | 292.6 | 290.00 | 300.90 | 293.30 | 298.70 |
BOK25 | 47.82 | -0.05 | 48.28 | 47.47 | 45.00 | 48.25 | 45.85 | 44.98 |
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