Grain TV: Does Spring Weather Favor Less Corn Acres?
Grain markets started the day to the downside but managed a recovery in fairly sluggish trade and ended with slight gains. Moisture is expected to move into the Plains but is unlikely to reach most of the dry areas in order to aid wheat. A warm, wet spring may lead to early planting, but could also result in a switch from corn to soybeans.
The bulls were again winners in an exciting week for longs and producers. In last week’s report, I said the markets bias would be near unchanged to a bit lower.