Thursday April 9, 2020

  • Markets are mixed this morning heading into the s&d report at noon
  • Markets will be closed for Good Friday tomorrow
  • Colder forecasts have attracted attention but not yet a concern
    • thoughts are for a possible delayed planting in the corn-belt
  • Exports were all on the strong side providing support for prices
  • Russia has shipped a cargo of wheat to Saudi Arabia suggestion positive relations between the countries. Rumors of a possible oil production cut between the countries is circulating┬ábut not confirmed. The cuts projected are still less than demand reductions due to the current pandemic
  • China has raised corn import projections for the month and will likely come from the USA
  • Brazilian corn exports down by over half due to strong domestic demand paired with low N/A prices provide good reason for Chinese purchases
  • Argentinian water levels at very low levels causing shipments to be lightened and further compounding delays at ports
  • EU currently experiencing a similar season to N/A last year with wet planting and dry growing causing concern for wheat production