Thursday March 31, 2022

  • Markets sitting just above unchanged this morning as we anxiously await the USDA prospective planted acres report today at noon
    • The acreage story is the flashy headline we are looking for today but we will also be getting the March 1 quarterly stocks number 
  • Overall global production has lost an estimated 35 MMT of soybeans from the Brazilian drought, and 20 MMT of Ukrainian corn – so the U.S. needs to be close to at least 89 million and 92 million acres respectively for soybeans and corn at normal to good yields to help make up these global losses 
  • Biden looking to increase ethanol mandate to 15% as a way to help curb gas prices
  • U.S. weekly export numbers came in all within expectations, corn and wheat on the lower end, soybeans being the star of the week almost tripling compared to last week