Thursday April 11, 2024

• Wednesday morning, Daily Flash Sale: 254k mt of soybeans sold to unknown destination for 24/25 delivery.  
• USDA and Conab reports will be released today
• Argentine Rosario Grain Exchange cut heir 23/24 corn production estimate from 57.0 to 50.5 mmt this month. 
• European union cut there corn production estimate from 64.4 to 63.4mmt this month, up 3% from last year, with their soft wheat production up from 121.6 to 121.8mmt, 3% lower than last season.
• The US saw rains fall in the south and southeast over the past 24 hours and will see some in the eastern corn belt today. Looking into the weekend warm and dry conditions to be present before rains moves back into the north Monday and into the 6-10 forecast. 
• Rains were seen in the far north of Argentina yesterday with coverage into next week with a 6-10 day forecast of dry weather. Brazil saw scattered showers, with heavy rains in the north and south over the past 24 hours, 6-10 day forecast showing wide spread rains.