Grain Marketing Specialist
Hope to see you all there!!
Corn: As of 7:45- 2 lower
With little new news out there corn continues to drift lower overnight as we continue to move past Thursday’s WASDE #’s. Bird flu seen as unlikely to affect feed consumption. Next up will be USDA prospective plantings released Mar 31st. Currently bean/ corn ratio at 2.6 suggesting an increase in soybean acres. It will be interesting to see how this works out as it seems often weather will ultimately dictate a large shift in plantings. Right now momentum seems to be lower with support at 3.58K and 3.52K.
Soybeans: As of 7:45- 1 lower
Soybean’s continue to work lower overnight on continued weakness from Thursdays report as growing world stocks and US along with anticipation of large US acreage weigh on fundamentals. Brazilian harvest reported as 56% complete. Bean/Corn ratio sitting at 2.6 suggesting an increase in soybean acres as USDA finishes compiling data for the Mar 31 prospective planting report.
Wheat: As of 7:45- 4 - 5 lower
Wheat seems to be relegated to follower for the moment as we remain lower overnight into this morning. There is some growing concern on southern HRW areas with the 6-10 day showing little relief. Early warmth having some areas breaking dormancy before this last cold snap causing concern as well.