Corn and bean markets both slightly firmer today up 2 cents and a penny respectively. Fresh news has remained on the thin side and producer selling have been very limited. It seems most are content with current sales and putting more focus on getting started on planting. The USDA announced a new export sale this morning of 130,000 MTs of beans to Argentina. It was also noted today that China’s March U.S. soybean imports were down 27% vs. a year ago. Weather forecasts currently look conducive for planting progress for most of the corn-belt through mid-week, next week, before widespread rains are expected to sweep through. Funds were estimated net buyers of 11,000 corn contracts and 7,000 bean contracts on the day. Outside markets, in later trade, had a weaker Dollar Index, the Dow was down over 400 points, and Crude Oil was 85 cents lower.
This data and these comments are provided for information purposes only and are not intended to be used for specific trading strategies. Although all information is believed to be reliable, we cannot guarantee its accuracy or completeness. The risk of loss in trading futures and/or options is substantial. Each investor must consider whether this is a suitable investment. When trading futures and/or options, it is possible to lose more than the full value of your account.
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