Monday March 30, 2020

USDA Prospective Acreage Report out tomorrow at noon – typically markets don’t make big moves heading into a report so fairly quiet markets expected to lead us into tomorrow
Wheat and beans continue to test slightly higher this morning, corn feeling the energy pressure and crude sank again on the overnights
Wheat reaping the rewards of the global food supply concerns as people turn to cheaper carbs
South American logistics is proving to be a problem aiding the North American bean prices
Rosario Grains Exchange reported that Argentina’s soybean crushing supplies are down by half what they typically are and falling as municipal transportation blocks deter the flow of grain
Brazilian farmers are facing rising freight costs as trucking slows across the country as the government is attempting to limit the spread of COVID 19
Ukraine millers are asking their government to limit the amount of grain exports as local bread prices are facing a sharp increase
- Government reaction was to monitor the situation and take necessary measures when needed
China restarting its economy – citizens returning to work after COVID shut downs, restaurants re-opening and importers buying in goods