Wednesday March 6, 2024

  • The European commission¬†showed soft wheat exports down since July at 21.0mmt from 21.38mmt last year.¬† Corn imports down from last year at 11.94mmt vs 19.99mmt and soybeans imports at 7.9mmt vs 8.0mmt last year.¬†
  • China is actively buying corn from Ukraine, taking of some presume on the global price and they have been showing interest in Brazilian beans over the past few days. 
  • Russian wheat sales continue as they lower their price. 
  • The global soybean exports are 3.7% behind last years pace, global corn exports are ahead of last years pace by 13.3%, and the global wheat exports are 2.8% behind last years pace. 
  • Weather
    • Rains left the eastern corn belt and southeastern U.S yesterday leaving the Plains and Midwest dry today, but forecasts are showing some rains over the next couple of days. 
    • Argentina looking to see some rains through to Saturday, more so in the east and northeast. 
    • Brazil saw some rains in the central/ northern parts of the country, with rains moving more wide spread through to Saturday.