Tidbits, Corn, Crop Progress, ENSO, Export Inspections 5/6/25
- Wright team
- May 6
- 4 min read
Tidbits
There were two major factors that crushed the corn market yesterday:
A weather forecast which will allow most of the nation’s remaining 60% corn acres to be planted in the next 10 days
and the market’s conclusion that Brazil’s safrinha crop will be a bin buster because April rainfall was more than it was last year.
The market ignored that the dry season has started for the safrinha corn and 40% of it was planted after the ideal planting window closed on 22 February and safrinha acreage is 12% less than a year ago. Tariff talk and lower crude oil did not help corn, beans, and wheat commodities either.
After a modest short-covering rally today, it looks like the corn market will be sideways to lower the rest of this week because of good planting weather and next Monday’s S&D with 95.3 million acres of corn planted in 2025 will be plugged into the S&D for 2025.
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