US soybean futures came under pressure Friday night as the punters are betting some acres will be switched from corn to beans due to wet weather.
The central corn belt in the US has seen some pretty big falls over the last 30 days, I’ll attach a link below. It is easy to see why they are starting to think we may see some delays in corn planting. The outer corn belt states have made good progress. It is actually interesting as the biggest producing states are the ones slipping behind.
Mind you we’ve seen this plenty of times before. The US farmer has all the latest gear, we’re not talking some bloke pushing a Massey 75 around a 25 acre paddock here, they can plant a lot of country in a short amount of time.

Canola futures broke away from the weakness in soybeans at Chicago. ICE canola managed to close C$6.60 higher for the Jan17 slot. There were also good gains in the Paris rapeseed contract.
Wheat is starting to find support from the same rain that is delaying US corn planting. Yes it is likely yields will increase but they are now thinking that disease will quickly become a major issue without some dry weather.
They don’t call April / May / June the silly season for nothing. Next week promises to be just as interesting as the last.