News
Grain and soy futures favored the downside overnight as anxiety with the U.S. banking situation triggered general risk aversion.
Rosario Grain Exchange pushes Argy soy crop estimate below 30 MMT, Russia balks at grain deal extension and Fed Chair Powell did not specify this month’s rate increase...
Consensus: Argentine soybean crop 27 MMT and heading lower
USDA reported 23,000 MT of soybean reductions for week ended March 2, a new marketing year low, while corn sales proved solid, landing near the top-end of the expected pre-report range of 1.2 MMT.
Corn and soybeans are expected to open slightly firmer. Wheat will continue to struggle to find buyers.
Corn and soybeans traded higher overnight, while the wheat market turned mixed this morning after corrective gains earlier in the session.
USDA made limited revisions to its balance sheets this month, as expected.