Thursday April 16, 2020

• Markets continue to slide this morning with no positive spin to pull the markets out of their downfall 
• Slaughter houses in the states continue to close adding more fear to the corn market 
  • With corn being a three legged stool – Ethanol, feed and exports, ethanol demand has already crumbled and with feed now threatened corn could be looking at an even grimmer picture
• Export sales this week coming in less than last week 
  • Corn and wheat within the expected range, beans failing to even reach the lowest end of expectations
• Argentine experiencing pockets of hot dry weather Rosario Grains Exchange have slightly lowered soybean and corn production as a result
• Yesterdays NOPA crush numbers came in strong at a record 181.4 million bu for the month of March – highest on record for any month of the year and surpassing even the highest estimates 
• Corn futures feeling the pressure of the demand loss due to COVID, sitting at the lowest levels since 2016 with no relief in sight