Tuesday April 7, 2020

• Corn recovering from multi year lows this morning – wheat stepping back after strong initial ratings 
• USDA’s first national winter wheat ratings released yesterday claiming 62% of the U.S. winter wheat is in good-excellent condition  – up 10 points from final fall rating and well above average of 49% g/e 
• New York and New Jersey are indicating signs of peaking with coronavirus cases which could be positive news for the rest of the country 
• Models suggest that hospital resources in the U.S. will reach peak demand on April 15 with peak deaths occurring on April 16 projecting over 3,100 deaths per day at the top 
  • however the projected range goes anywhere from 1,200 to 7,700 deaths per day at the peak in the U.S.