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Planting talks undercut corn futures on Monday

Planting talk seemed to undercut corn futures Monday. Surging equity markets, news of Chinese economic stimulus and the USDA Export Inspections result all appeared supportive of corn futures. However, prices declined rather significantly modestly Monday, which seemingly reflected a reaction to ideas that plantings surged in the southern Corn Belt last week. May corn futures closed down 1.75 cents at $3.78/bushel Monday, while December sagged 2.0 to $4.0125.

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Wheat markets mixed in midday trading on Monday

Planting talk seems to be undercutting corn futures. Surging equity markets, news of Chinese economic stimulus and the USDA Export Inspections result all might be construed as supportive of corn futures. However, prices declined rather significantly this morning, which seemingly reflects a reaction to ideas that plantings surged in the southern Corn Belt last week. May corn futures sank 2.0 cents to $3.7775/bushel late Monday morning, while December sagged 2.25 to $4.01.

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