Minnesota farmers are back on track with 2017 planting

In Illinois and IN, both hit hard by excessive rainfall the past few weeks, 23% of the crops are planted, behind the average of 31%.

Not that all observers see this as a wise idea.

The most active Chicago Board Of Trade March soybeans rose 0.31 percent to $9.66 a bushel, having closed down 0.34 percent on Friday when prices hit a low of $$9.60-1/2 a bushel - the lowest since May 1. Winter wheat headed reached 86 percent. The Illinois state report did not provide a specific reason for wheat dropping to 52% good/excellent from last week's 60%, but the state had about 0.9 in. of rain over the past week and 1.9 days suitable for fieldwork.

"The "buy beans/sell corn and wheat" trade has been reinforced by today's session", said Mike Zuzolo at Global Commodity Analytics.

Wheat futures declined in overnight trading after a government report showed the condition of the winter wheat crop was better than what some may have expected.

Soybeans rose 0.2 percent to $9.64-1/2 a bushel, after ending down 0.3 percent on Friday when prices dropped to their weakest since May 1 at $9.60-1/2 a bushel.

"Market focus is on supplies and world supplies for corn, beans and wheat are record large".

Iowa's corn planting jumped to 85% from last week's 52%, Minnesota was at 84% from 35%, North Dakota was at 58% from 23% and South Dakota was at 77% versus 32%.

CHS Hedging said that "the 6-10 day forecast shows temperatures moving cooler, with some areas in Colorado moving below freezing". IL growers were 75% finished with seeding, behind the average by 2 points; those in IN were 56% done, behind the average of 62%.

"That has provided some support to the soybean complex". The dry and warm weather also aided crop emergence.

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