Monday March 25, 2024

• Corn and beans are sitting off last weeks highs but still have support, trade is eagerly awaiting Thursdays report
• Last Friday wheat was able to make a nice move away from its lows. It is believed that news out of Russia helped wheat make the move higher
  • The RIF Trading House in Russia was forced to sell assets at a big loss and will potentially have to sell the company at a major loss
  • It is being said that this will cause irreparable harm to the Russian Federations reputation in the global grain market
• The USDA reported a flash sale of corn to Mexico on Friday with 173,000MT for 23/24 delivery and 90,000mt for 24/25 delivery 
• On Friday Russia launched an aerial assault on Ukraine’s power sector, resulting in widespread power outages
  • Some are calling it the deadliest attack as of late