Because the planting work the fields in the Midwest of the United States rapidly progressing, the courses of CBoT soybean and the Maisfutures come tomorrow today on the second day in a row under pressure. The USDA announced that the already accumulated stocks of corn for 72% in good to excellent condition and had better than expected market participants. Only 6% of the planned areas with corn had to be ordered until last Saturday (last week: 14%).
The seeding of soybean is now closed to 73%, in the previous week, there were only 56% and average the last few years, there were 66% to this appointment. The rains were not so productive that the field work have been hampered at the weekend.
U.S. farmers have already sold 14% of their next soybean harvest although the planting work is not even complete. Thus also the commandments for the pre-sales come back and decrease the premiums between futures and cash market.
