Grain markets are higher in overnight trading:

Corn + 2 ¾  cents/bu (May @ 3.50 )

Soybeans + 2 cents/bu (May @ 8.88 ¾ )

Chi Wheat + 5 ½ cents/bu (May @ 5.67)

Cdn $+0.00520 (69.55 cents)

WTI Crude Oil -0.27/barrel (23.74)

Grains are stronger this morning, although well off their highs for the overnight session.  Beans have traded as much as 10 cents/bu higher, while corn was up 5 ½ cents/bu, and wheat was up 6 ½ cents/bu.  Massive uncertainty hangs over the market due to the rapid spread of the Coronavirus, but the market remains confident that the Chinese will become big buyers of USA grains, as they try to ensure that the shipment of grains is not disrupted, should one or more of their suppliers get shut down by COVID-19.

Not a lot of news in the market this morning.  The USA Senate and White House agreed in the wee hours of this morning to a 2 trillion dollar Coronavirus stimulus package.  That agreement initially had USA equity futures trading higher, but markets have since given up those gains, and Dow futures currently sit at closed to unchanged.  USA COVID-19 infection levels are expected to spike higher over the next few days, as New York City becomes the epicentre for North American infections.  Canada also passed their 82 billion dollar COVID-19 stimulus package in the House of Commons overnight, with the bill now moving onto the Senate for passage.  The unanimous passage of the Canadian bill had our Loonie trade higher within a whisker of 70 cents in overnight trading

Wheat is getting some support from extended forecasts for the Black Sea production area that are starting to show dryness developing in Ukrainian wheat regions.  International weather elsewhere around the globe looks to be production friendly for now.