DTN Closing Grain Comments 05/17 13:58
July Soybeans, Corn Push Higher
The July contracts of corn and soybeans have picked up the baton of tight
old-crop supplies after the May contracts expired strong earlier this week.
Both July corn and soybeans closed higher on the week, making it clear strong
domestic demand still continues for limited available supplies of corn and
soybeans. Planting activity should have accelerated for corn in the western
Midwest this week and for corn and spring wheat in the Dakotas. The hard red
winter wheat crop received some rain in Oklahoma and the Texas Panhandle
earlier this week, but the overall forecast for the Southern Plains remains dry
for the next two weeks.
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