Monday March 2, 2020

• Markets are mixed again this morning with some bullish news being pressured by poor U.S. export demand. They still don’t have a clear direction with many outside influences making things very difficult to predict
• The end of the month brings us the USDA prospective planting report which will take another risk out of the market
• Over 10% of COVID-19 cases are now outside of china showing the disease seams to be contained in China but is spreading rapidly elsewhere
• A Chinese government official has said China will “definitely” honour U.S. trade deal ag purchase
  • there is still many loopholes in the deal that would allow China to not reach the total dollar value yet still claim they honoured the deal
• A possible deal has been reached for the pipeline barricades to end hopefully allowing Canadian shipments to begin again and CN rails have even began bringing back laid off employees
• A report shows that it is believed the corn left out overwinter will survive for the most part
• Ukraine grain production was down yoy for corn, wheat and barley
• Brazil exports are up 367% month over month with China currently favouring Brazilian beans
• Bloomberg.com believes the oat bubble is about to pop. The recent popularity for oats has pushed prices to a level that many producers have decided to plant them this year providing a huge supply boost which should lower prices 
• Current expectation for corn acres in the us is at 96.6 mln acres and paired with an average yield it would amount to a record production for the U.S.
• The U.S. biofuel industry is expected to receive millions of dollars toward infrastructure to produce more ethanol even though ethanol has seen a decrease in demand recently as well as poor margins