Tuesday May 26, 2020

  • Markets starting the week out green with soybeans leading the trade higher this morning
  • Chinese April corn imports were up 34% from 2019 
    • cumulative Jan-April imports are up by 30% year on year 
  • Chinese April wheat imports were up 66% from last year
    • Jan-April cumulative up 30% from 2019 
  • Optimism continues in the market as China remains a buyer to build up their supplies to protect themselves from potential logistical issues if COVID ramps back up internationally 
  • Encouragement also comes from slowly increasing gasoline demand and therefore ethanol, however we need to see sustained improvement for continued rallies in the corn market