USDA Planting Progress out today due to holiday yesterday.
U.S. Corn 82% vs. 62% last week with Iowa 97%, Illinois 62% vs 20% last week and 85% last year, and Indiana 55% as of Sunday.
Range of estimates were 80-85% so should be considered supportive to prices tonight.
Soybean plantings for U.S. 48% vs 25% last week with Iowa 80%, Illinois 12%, and Indiana 25% done.
The stock market had a nice rally today based on "consumer confidence" going up amid all the bad financial reports and the impending General Motors bankruptcy.
Old crop soybeans again led the markets higher closing up 19.5 cents as chatter of China looking to buy 1-2 cargo ships of soybeans from Brazil and crude oil futures bouncing back from $2.00 lower overnight to 60 cents higher supported the markets.
Weather this week looks favorable for getting corn and soybeans finished.
Scott Meyer
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