Chicago closing comments
Beans closed around 30-40c higher supported by crude & a weaker dollar. Forecast heavy rains potentially impairing weekend planting progress and the ongoing Argy uncertainty also added some support as traders built in some long weekend premium.
Corn closed modestly higher with gains of around 4c in quiet pre-holiday trade, crude supports. Planting progress due out Tuesday night is expected to show 85-90% done.
Wheat closed around 7c firmer on short-covering ahead of the long weekend although 5/6 mmonth lows were set earlier in the session. Widespread rains will favour the spring crop.
Corn closed modestly higher with gains of around 4c in quiet pre-holiday trade, crude supports. Planting progress due out Tuesday night is expected to show 85-90% done.
Wheat closed around 7c firmer on short-covering ahead of the long weekend although 5/6 mmonth lows were set earlier in the session. Widespread rains will favour the spring crop.
