Futures traded lower on Monday over international concerns of swine flu as word spread that the flu is making it's way from Mexico into the U.S. and Canada. Traders are feeling concerns that despite the fact that the flu is not spread via pork consumption, demand will most likely be curbed as a result, which will also curb demand for grain.
Crop planting progress was out tonight showing corn plantings at 22% vs. 5% last week and 9% last year, traders had been predicting between 15% to 20%. Iowa, Minnesota and Nebraska all posting large gains, at 47%, 40%, and 27% respectively. Soybeans were shown at 3% planted nation wide.
Chris Spurlock
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