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AgDay Daily Recap -April 15, 2014

April 15, 2014
 
 

TODAY ON AGDAY

APRIL 15, 2014

 

WILD WEATHER:

GOOD MORNING I'M CLINTON GRIFFITHS. IT MAY BE SPRING ON THE CALENDAR BUT TEMPERATURES MANY PLACES IN THE U.S. FEEL MORE LIKE WINTER THIS MORNING.

WHEAT PRICES:

WITH WINTER WHEAT JOINTING A HARD FREEZE OR TEMPERATURES IN THE LOW TO MID TWENTIES COULD DAMAGE THE CROP. WHEAT PRICES REACTED TO THE NEWS MONDAY. WHEAT FUTURES CLIMBED ABOUT 20 CENTS IN CHICAGO AND KANSAS CITY. RISING TENSIONS IN THE UKRAINE OVER THE WEEKEND ALSO HELPED TO PUSH PRICES HIGHER.
BACK HOME, AGRONOMISTS SAY IT COULD BE A COUPLE OF WEEKS BEFORE THE EXTENT OF ANY COLD WEATHER DAMAGE IS KNOWN.

CROP PROGRESS:

WINTER WHEAT THAT'S JOINTING OR ALREADY HEADED OUT IS MOST VULNERABLE TO THE COLD. USDA ROLLED OUT ITS WEEKLY CROP PROGRESS REPORT LATE MONDAY AFTERNOON.

SOYBEAN SALES:

SOYBEANS ARE BACK UP IN EARLY TRADE, AFTER A COUPLE OF DOWN DAYS. CHINA IS EXPECTED TO START CANCELING CARGOS AS CRUSH MARGINS NEAR BREAK EVEN. THE U.S. SOYBEAN EXPORT COUNCIL SAYS, IMPORTERS COULD DEFAULT ON AS MUCH AS 2 MILLION METRIC TONS OF SHIPMENTS.

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