It was a moral victory for corn today as it only closed down about a penny. Corn was down quite a bit more in the morning. Export Loadings were above the weekly pace we need to be on the meet the USDA projections for the year, but were down from the previous week. Last week they were at 1.18 MMT and this week 735,311 MT. Corn planting is off to a slow start down South as the USDA reported only 11 percent of the corn is planted in Texas. Normally it would be 35 percent planted.

Soybeans closed down 3-5 cents, which was a bit off the lows, too. NOPA Crush came in at 146.97 million bushels, which was below the average trade guess of 148.5 million bushels. However, compared to the same week last year the crush was up by 3.8 percent. Export loadings were reported at 583,944 MT, which was down from the same week last year at 950,885 MT. But, when you look at the year to date soybeans that were loaded for export, we are 154.6 million bushels above last year at this date.

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