With the exception of SRW, markets generally closed above overnight levels as short-covering progressed ahead of tomorrow’s USDA March WASDE. There was solid volume pushing corn, soybeans, and soyoil higher, but there was also high volume selling SRW.
Tomorrow will see the release of USDA’s March WASDE report. The trade generally believes that the agency will slightly lower Brazil’s corn and soybean output, the latter current estimate already obviously too high.
Solid exports and higher ethanol grind inform the view that USDA will slightly lower U.S. corn carryover, but weak soybean exports mean a potentially higher inventory, while wheat is expected to be left unchanged.
And at the global level, the m...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
