With the 2023 Hard Winter Wheat Quality Tour wrapped up and the Black Sea grain deal extended for another two months, will we see a quieter grain market Friday? Traders will keep tabs on the latest weather forecasts, but are developing low expectations for export business. USDA's cattle on-feed report for May 1 is due out at 2 p.m. CDT and many expect the on-feed total to be down almost 4% from a year ago.
Weather
A front is found from the Central Plains through the central Midwest Friday morning, producing some scattered showers in the Midwest, but heavy rain in the Southern Plains. Morning showers will die out across the Plains but redevelop over the south later in the day, which may become severe. Across the Midwest, showers will be lighter. A brief shot of colder air and smoke from Canadian wildfires are following behind the front.