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