There was a corn purchase announcement by China for 300,000 tonnes. Interesting to note that the freight trade knows what is happening before any sale announcements.
Corn higher and beans lower again today. I think we may just now be starting the play on the weather. Starting to see ideas that corn acres could be lower than expected a few weeks ago. Positive for corn but not for beans. There is a large part of the ethanol industry in Nebraska that is shut down due to the weather issues. But, Ethanol has not been doing that well. Some plants were up for sale before this. FOMC is not raising interest rates. And they may not the rest of the year. Dow Jones is down 460 points today. There is a general concern about the world economy and where we go from here. The spread between 10 year Treasury note and the 3 month note inverted today. (3 month higher than the 10 year) Last time that happened was in 2007 and 2008. Causing some concern about recession and thus the Dow sell off. It is spring, keep an eye on the weather reports. The 6-10 still looks wetter than normal.
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