Traders are watching for daily updates of second-crop planting progress in South America. In Brazil, Mato Grosso is off to the slowest start since 2011, while Parana is off to a much slower start than the prior two years. However, the pace in Parana is near the five-year average. If planting pace quickens more than expected, then we are likely to see prices react negatively.
Get our daily in-depth analysis delivered directly to your inbox by 5:30 AM CST each morning, along with other services created specifically for farmers, when you become a Kluis Commodity Advisors client. Try our Kluis Commodity Advisors 30-day free trial to test it out.