Market Thoughts 4.17.23

May corn gained 22’6 to close at 666’2, highest weekly close since February 13th. May soybeans gained 8’0 and closed at 1500’4 but this was well off Thursday’s 1522 daily high. May spring wheat gained 4’2 to close at 876’2 though futures had fallen all the way to 847 on Thursday before Friday’s rally pushed things back into positive territory for the week.

The week started on a sour note with losses across the board as traders focused on open planting weather across much of the Corn Belt. By Friday though, the things we’ve been talking about since late March seemed to finally take hold... 10 day..

Click here to access the full analysis