Farm Progress is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Serving: United States

Market Update for May 7, 2018

Bryce Knorr talks about the rising price of crude oil and planting progress. (audio)

Last week was the first good week for planting across much of the nation and farmers made rapid progress. He suspects corn planting progress will be near five-year average in this afternoon's Crop Progress report from USDA. Late planting is off the table in most parts of the country.

USDA releases its may production supply and demand report on Thursday. It's the first production estimates for new crop going in the ground now. It's also first survey of winter wheat farmers in their field. The estimates from the wheat tour in Kansas last week are close to his models.

Crude oil has topped $70 per barrel for the first time since 2014. There's uncertainty in the market as President Trump mulls pulling out of the Iran nuclear deal.

Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish