Grain Futures: Where We're At, Where We're Going

"In the leap of 1315, unusually heavy pelting began inward much of Europe. Throughout the leap in addition to summer, it continued to pelting in addition to the temperature remained cool. These conditions caused widespread crop failures. The straw in addition to hay for the animals could non endure cured in addition to at that spot was no provender for the livestock. The cost of nutrient began to rise. Food prices inward England doubled betwixt leap in addition to midsummer. Salt, the alone agency to cure in addition to save meat, was hard to obtain because it could non endure evaporated inward the wet weather; it went from xxx shillings to forty shillings." —The Great Famine of 1315-1317

Although nosotros were on transcend of the forces that seem to endure coming into play inward the row crops in addition to wheat markets.

• April nine "GRAINS-Wheat Rallies As Cold Weather Threatens Crops" and
• April 10 "Is $8 Corn Influenza A virus subtype H5N1 Possibility?"

We missed a fox past times non pointing out 1 of the classic nautical chart patterns in addition to thus developing inward wheat:

FinViz

That's a existent alive cup-and-handle alongside the declining handgrip taking pretty much the entire calendar month of March to play out, a stronger set-up than the like activity inward corn:

FinViz

where the handgrip alone had a couplet weeks to milk shiver out longs.

Crops are belatedly going into the the world across huge swaths of the corn belt alongside wheat a fighting to a greater extent than timely
From AgWeb, Apr 30:

Heavy Rains Expected inward the Midwest

HeadlinesDec xviii corn pushed to novel highs at $4.17 inward the overnight session. November xviii soybeans traded to $10.57 ¾, merely iii cents away from the Apr s highs. Planting delays TW inward Midwest in addition to dry out conditions inward S. Brazil elevator grains.

Midwest Weather 
Heavy rains are expected inward the Midwest past times the middle of the calendar week which volition stall planting progress. The Delta is expected to have lilliputian additional pelting which should allow for planting progress. Temperatures are expected to endure to a higher house normal this calendar week across the Midwest which volition assistance alongside wheat increment in addition to corn germination.

KC Wheat Weather
Rains should produce goodness northern in addition to eastern plains. Dryness is expected to persist this calendar week inward W. Kansas, SE Colorado, W. Oklahoma in addition to the Panhandle of Texas. The dryness volition driblet dead along to stress the already struggling wheat crop. Wheat crop is at jointing phase inward KS in addition to at heading phase inward OK in addition to TX.

South America
Rains were express inward S. Brazil over the weekend. No meaning rains are forecast inward S. Brazil this calendar week which volition stress the crop during pollination.  Arg. rains slowed harvest inward northern Buenos Aires in addition to Entre Rios this weekend. More rains are expected to select wet to cardinal growing portion in addition to ho-hum harvest progress.  Arg. soybean harvest is 54% complete. Arg. corn harvest is 30.9% complete.... 

And what does all this mean?
The May WASDE Report looks to endure the near of import (and potentially marketplace moving) written report of the final few years. If growing aeroplane days get to grab upward to average over the adjacent 10 days, corn collapses every bit wheat stays relatively stronger.
Stay tuned.
Wheat upward 11'2 (2.26%) at 509'6
Corn upward 3'4 (0.88%) at 402'0