Grains are mostly lower at midday:
Corn -4 1/4 cents/bu (May @ 5.60)
Soybeans -19 1/4 cents/bu (May @ 14.17 1/2)
Chi Wheat – 13 cents/bu (May @ 6.05)
Cdn $ -0.00040 (79.61 cents)
WTI Crude Oil +1.26/barrel (60.42)
Heading into a three-day weekend (Markets are closed tomorrow for Good Friday), grains are easing off of the excitement of yesterday’s report.
The export sales report was released this morning for the week ending March 25th. Values are shown in thousand tonnes. The sales came in mostly within expectations, nothing too bullish.
This afternoon, February’s USDA crush numbers are to be released and they are expected to come in at 165.1 million bushels (estimates range from 164.0-170.0 million bushels). This would be down from 196.5 million bushels in January, and down from 175.3 million bushels in February 2020. If realized, this would be the smallest monthly crush number since September 2019.
StoneX Brazil team raised its soybean production estimate to 134.03 million mt, up from 133.48 million mt the previous month. Total corn output is pegged at 105.06 million mt, down from 108.5 million mt the previous month.
NEW- Agronomy Email Commentaries
Wanstead Farmers Co-operative is excited to be announcing that we are providing a new service of weekly emails on local crop analysis! Each Wednesday, Wanstead will send out an email of crop information that our agronomists feel is important. This may include what they are seeing while crop scouting, what local farmers are doing in the fields this week, and what farmers should watch out for, or be aware of. We know that it is harder to have your coffee house chats, so we wanted to provide a service that helps our Wanstead customers stay connected to their farming community. If you are interested in receiving these updates, please send me an email and I will add you to the list! meganm@wansteadfarmerscoop.com