Turn-around Tuesday trade today as corn gained back most of it's losses yesterday. Weather models at midday reports showed a little more moisture coming into the corn belt in the long range 8-14 day forecast but favorable conditions for the next 4-5 days should see lots of planting in areas of Iowa and Minnesota that did not receive the last round of rain. Interesting note I read on surplus moisture at the surface Iowa 14% surplus vs. Illinois 73%. We continue to get e-mails from brokerage services in Iowa talking about how well planting is going but also how dry soils are as they have missed all the rain in the last 2 weeks.
Outside markets were supportive today as stock market rebounded after a dismal day yesterday and crude ended up 60 cents after being down almost $2.00 in night trading and early this morning.
Scott Meyer
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