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.