HIGHLIGHTS
· Market Trend: Corn, CK Down $.0150; Soybeans, SK Up $.0025; Wheat, WK Down $.01; KWK Up $.0050
· Talk of more economic reform via state-owned mergers lifted the Shanghai market 3.06% higher; the Hang Seng gained 1.33% & the Nikkei eased .18%. Europe is mostly lower on Greek concerns: FTSE, off .12%; CAC 40, down .41% while the DAX is up .27%. U.S. pre-markets have a firmer tone: DOW, +31; the NAS, +11 ¼ and the NAS, + 4 ½. Apple’s earnings are a major focus as are possible Fed comments on monetary policy Wednesday. Outside markets: Energy is weaker; the & Index is up 1/3rd of a point at 97.86 and gold is $7.20 higher at $1,182 on the May contract.
· T-storm Weather: Temperatures initially remain cool over the next few days, but warm sharply from west to east over Tuesday-Saturday as upper-level high pressure expands from the West. A slow-moving upper-level system develops widespread rainfall of 1.00" to 2.00" from / adjacent wheat in Oklahoma through the southern Delta through Tuesday. Most other areas stay dry through at least Saturday, likely opening a large-scale planting window across much of the northern Plains and Corn Belt as the week progresses (with the possible exception of wet Iowa)
· May Corn Down $.0150 at $3.63; July Down $.0175 at $3.68. The Funds sold 8 K Friday
· May SB Up $.0025 at $9.70; July Up $.0025 at $9.71. The Funds sold 7 K SB; 4K SBM and 5 K SBO Friday
· May Wheat Down $.01 at $4.85 July Down $.0125 at $4.8725. The funds sold 8 K to close out the week
CORN/SORGHUM     ;    
· Export Inspections released at 10 AM CDT; Corn, 42.4 needed; 42.1 last week. Milo—5.3 needed; 8.6 last week
· USDA Crop Progress report scheduled for release at 3:00 PM CDT projected to show U.S. corn planting progress as of April 26 at 20-25% compared to approx. 17% last year and the five-year average of approx. 25%
· T-storm Weather: Scattered thunderstorms are most likely to initially focus on the northwest half of the central U.S May 3-5, then across a much larger area May 4-10 as a series of systems develop at least near-average rainfall
· Commitment of Traders report: Non-Commercial long corn futures only positions decrease 6,642 contracts
SOYBEANS/WHEAT
· Export Inspections released at 10 AM CDT; Soybeans, 6.2 needed; 5.4 last week
· Commitment of Traders report: Non-Commercial long soybean futures only positions increase 3,408 contracts
· T-storm Weather: Rains in recent weeks sharply improved topsoil and subsoil moisture for U.S. HRW wheat, leading to the lowest coverage of dryness for late-April of at least the last four seasons
· Export Inspections released at 10 AM CST; Wheat, 23.1 needed; 20.7 last week
· Commitment of Traders report: Non-Commercial long CBT wheat futures only positions increase 6,395 contracts
ENERGY
· Lower: CLM15, -$0.28 to $57.87; EBM, -$0.38 to $64.90; EBM-CLM, +7.99, RBM, -$.0087;NGM, -$.054; HOM, -$.0087
· Cash ethanol markets were mixed on Friday: Chicago down 2 ¾; New York and Gulf off 2 ½;Tampa added 3 ½; Dallas up 2; but LA was 1 ½ lower at $1.80 ½ per gallon
· RINs were mixed: 2013’s down ½ to 71-72; 2014’s eased 1 to 72-73; and 2015’s were ½ up ¼ to 71-72
· The June RBOB/May Ethanol spread settled $.0364 higher at $.4228 per gallon on Friday
LIVESTOCK/POULTRY <wbr>  
·   Choice boxed beef values were down $3.02 on Friday and are 80-cents lower compared to a week ago
· Cattle on Feed report: On Feed, 100.0% (v. avg. guess of 99.0%); Placed, 100.4% (95.6%); & Marketed, 98.3% (98.1%)
· The USDA mandatory pork carcass cutout value was steady on Friday but is $1.73 higher vs. last week
· CME Lean Hog Index was up $0.21 at $65.39. May futures up $0.025 at $71.95 and are $6.56 above the index
Sources: Bloomberg, Dow Jones, AP, T-storm Weather