A market analyst says recent rains have delayed U.S. corn and soybean planting progress more than expected.
Naomi Blohm with Total Farm Marketing tells Brownfield it’s unclear how wide of a planting window is ahead.
“We’re not ahead of schedule. There’s rain on the radar. There’s more rain coming. The places that are wet are staying wet and are slower to dry out. It’s going to keep the pace for planting lower than normal and that means we keep weather premium in the markets for now.”
Blohm says it’s a weather market right now and traders will pay close attention to what happens in the next week.
