Your Pro Farmer newsletter (April 22, 2023) is now available

Weather is a greater market focus with USDA giving weekly updates on planting progress and winter wheat conditions. While HRW areas of the Plains are forecast to receive some needed rains through this week, the crop is poor and the extended outlook doesn’t offer much hope. However, drought improvement is expected across the western Corn Belt through July, while eastern areas of the region are expected to see favorable growing conditions into midsummer. USDA punted when it came to the old-crop corn and soybean balance sheets this month, giving it more time to assess any changes in usage patterns. We anticipate some changes in May to both old-crop corn and soybean use. We present our old- and new-crop balance sheets in our page 4 feature this week. On the economic front, markets are signaling traders anticipate a soft landing for the economy. But a look back at recent history suggests the equity market probably hasn’t posted its low yet. We cover all of these items and much more in this week’s newsletter, which you can download here.