06/03/2025 Lead Foot Heavy on the Pedal

Above you will find today’s installment of Morning Market Talk. Rain Makes Grain You can click on the picture above to take you to this morning’s episode. On the Grains The Planting Progress report, released yesterday, indicates that the US corn crop is 93% planted, with approximately 7.1 million acres remaining. While that may seem like a lot of acres—especially if those are your acres left to be planted, it’s hard to imagine not getting most of them planted, whatever the “bulk” of that may end up being at the end of June. With the Eastern Corn Belt continuing to be the problematic area, we could see a better-than-expected export basis this fall if those sales eventually come to the US. Currently, Argentina’s FOB offers for corn are running about 13 cents higher than those in the Gulf. While Brazil has just started exporting corn, it remains priced out of the game, noted yesterday at a 6-cent premium to the Gulf, for now. From July to December, Brazilian corn is offered at levels below those in the Gulf, and the only factor that could change this is if the crop in SAM somehow decreases in size between now and then,…