Monday April 15, 2024

• SovEcon estimated Russian grain exports from April at 5.2mmt, down from 6.1mmt in March.
• Weather Update:
  • The plains and the Midwest were warm and dry over the weekend. Heavy rains in the northern corn belt tomorrow and moving out through the eastern and northern belt on Wednesday. 
  • Rains over the weekend in Argentina and to continue into tomorrow. The 6-10 day forecast looking drier.
  • Brazil also seeing rain this past weekend and into the early parts of this week, the 6-10 day forecast looking dry. 
• Chinese customs data shows March exports were down 7.5% year-over-year. Chinese March imports came in are 5.54mmt vs 6.85mmt a year ago.