Thursday March 11, 2021

• Markets mostly flat this morning after a fall off yesterday
• Brazilian agency Conab raised their production estimate for soybeans from 133.8 MMT to 135.1 MMT – up over 10 MMT from last years 124.85 MMT production 
• Rosario Grains Exchange lowered their estimate for Argentine soybeans production by 4 MMT to 45 MMT 
• Weekly export numbers came in strong for both wheat and soybeans – both right on the high end of expectations – corn however disappointed coming in just below expectations 
  • We are seeing corn and soybean exports both flatten as South American supplies reach the market place