Monday April 20, 2020

• Wheat making up some ground this morning as Russia approaches their export limit 
  • Previously they came up with a self imposed export limit of 7 MMT to ensure they had enough for local demand – at current export rates they are set to be reaching that limit mid May – the quota was supposed to last till the end of June 
• Corn and beans are seeing a planting window open up in the U.S. late April-early May pushing them lower again this morning
• Crude oil collapsed below $11.00/barrel overnight starting off the stock markets on a heavy note this week 
• The Canadian dollar seems to be distancing itself from the falling oil prices only slightly down this morning