Grains are higher at midday:

Corn + 13 cents/bu (May @ 5.82)

Soybeans + 12 1/2 cents/bu (May @ 13.94 1/2)

Chi Wheat + 4 3/4 cents/bui (May @ 6.32 3/4)

Cdn $ +0.00145 (79.755 cents)

WTI Crude Oil +0.50/barrel (60.20)

Turn around Tuesday!! Despite being quiet today, grains are rallying after the big sell-off yesterday. Whether that is due to an overreaction yesterday, or smaller headlines providing firmness today, we do not know.

Outside commodities are lower after the FDA recommended pausing the Johnson and Johnson COVID-19 vaccine. The vaccine had been given to 6 million people, ad blood clot issues have been reported in 6 women under the age of 48. This was another painful reminded that COVID-19 is not yet in the rearview mirror.

It was reported that China imported 7.77 million mt of soybeans in March. This is 42% higher than the 5-year March average.