Tuesday March 23, 2021

• Markets continue this one step forward one step back market pattern this morning with beans and corn in the green this morning
• Soy oil prices buoy the bean market seeing its highest price levels since 2011
  • Soy oil stocks in China reaching 5 year lows 
• Private analysts estimates are beginning to come out and will continue to be released as we approach the USDA Prospective Planting Acres & Quarterly Stocks next Wednesday
  • Informa putting corn at 94.3 million acres and soybeans at 89.7 million acres 
  • USDA Ag Forum earlier this winter had corn at 92 million acres and soybeans at 90 million acres
• Brazil second crop corn planting now 65-70 % complete with the main region of Matto Grosso almost finished planting