HIGHLIGHTS
· Market Trend: Corn, CK Down $.0125; Soybeans, SK Up $.05; Wheat, WK Down $.0250
· China promises new stimulus measures: Shanghai closes up .9%; the Hang Seng and Nikkei were both little changed with the former down .03% and the latter, up .06%. Europe is higher at mid-day: DAX, +1.11%; CAC 40, +.70% and the FTSE, +.36%. U.S. futures point to a higher opening: DOW, +50; S&P, +4.50 and the NAS, +5.7. Outside markets find the $ Index up 1/3rd of a point to 96.15; gold is $6.90 dearer at $1,184.40 and energy futures are mostly firmer:
· T-storm Weather: Temperatures average much warmer than usual across areas over the next two weeks+ as a large area of upper-level high pressure keeps cold air far-removed from the U.S.; maximums usually reach the mid-70s to mid-80s and minimums stay in the 50s-60s through the period, or 6°F to 11°F warmer than usual. Multiple rounds of occur across the Plains and northwest half of the Corn Belt from today through Friday as a series of systems slow and stop planting, turn HRW wheat wet and alleviate drought in driest areas of / adjacent the northern Plains; widespread rainfall of 1.50” to 3.00” occurs
· May Corn Down $.0125 at $3.5850; July Down $.0150 at $3.6150. Dely: Corn, 0; ETOH, 0. Funds sold 7 K to close out the week
· May SB Up $9.7350; July Up $.0450 at $9.6925. Dely: SB, 1; SBO, 251. The Funds sold 7 K SB; 6 K SBM &B 1 K SBO
· May Wheat Down $.0250 at $4.6750; July Down $.04 at $4.70. Dely: HRW, 81; SRW, 28. The funds were even in Friday’s trade
CORN/SORGHUM ;    
·   USDA Crop Progress: Conservative estimates have U.S. corn planting pegged at 40-45%--vs. approx. 28% last year and the five-year average of approx. 38%--though some believe it may top 50% following an active pace this weekend
· T-storm Weather: Widespread rains likely continue from May 9 forward in wettest areas of the Plains and Corn Belt
· Widespread rains in Center-West Brazil keeping second-crop corn moist as the rainy season lasts longer than usual
· Export Inspections released at 10 AM CDT; Corn, 42.0 needed; 50.9 last week. Milo—5.3 needed; 4.3 last week
· Commitment of Traders report: Non-Commercial long corn futures only positions increase 11,400 contracts
SOYBEANS/WHEAT
· USDA Crop Progress: U.S. soybean planting est. at 10-15% vs. approx. 5% last year & the 5-year average of approx. 9%
· Export Inspections released at 10 AM CDT; Soybeans, 5.9 needed; 11.5 last week
· Commitment of Traders report: Non-Commercial long soybean futures only positions increase 2,675 contracts
· USDA Crop Progress: U.S. spring wheat planting est. at 70-75% vs. approx. 25% last year & 5-year avg. of approx. 40%
· Export Inspections released at 10 AM CST; Wheat, 23.4 needed; 20.0 last week
· Commitment of Traders report: Non-Commercial long CBT wheat futures only positions increase 1,668 contracts
ENERGY
· Mostly firmer: CLM15, +$0.23; EBM, +$0.35; EBM-CLM, +7.43, RBM, +$.0097; NGM, -$.018;HOM, +$.0032
· Cash ethanol markets were lower to wrap up the week on Friday: Chicago eased 1 3/8; New York down 4 ¼; Gulf ½ lower; Dallas declined 1 ½; Tampa off 1 ¼; and LA was a penny lower at $1.79 per gallon
· RINs were higher: 2013’s up ¼ at 73-75; 2014’s gained 1 ¼ to 75-77; and 2015’s added ¾ to 73-75
· The June RBOB/May Ethanol spread rose ¾ of cent on Friday to $.4383 per gallon
LIVESTOCK/POULTRY    
· Choice boxed beef values were down $2.26 on Friday and are $2.35 lower vs. last week
· Cash cattle trading on Friday was light to moderate with prices in the South at $160—up $2 vs. the previous week
· The USDA mandatory pork carcass cutout value firmed 67-cents Fri., is up $3.85 v. last week & highest since Feb. 9
· CME Lean Hog Index up $1.33 to $69.49. May futures down $0.95 to $76.00 and are $6.51 above the index
Sources: Bloomberg, Dow Jones, AP, T-storm Weather