Tidbits, ENSO, Export Inspections, Markets & Rain Days Update 5/9/23

Highlights

The crop progress report was supportive for wheat, but corn and bean planting progress was 1% more planted than the market expected, so a bit negative for prices. The national numbers:

• Corn: 49% planted vs expectation of 48%; the 10 year average is 42% planted.

• Beans: 35% planted vs expectation of 34%; the 10 year average is 11% planted.

• Spring wheat: 24% planted vs expectation of 28%; the 10 year average is 38% planted.

• Winter wheat: 29% rated good or excellent; the market expected 30% good or excellent.

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