Midwest Rains Could Slow Plantings


Grains are higher. SN is up 11 cents and near 11.82. SMN is near 352.8. BON is near 43.46. CN is up 4 cents and near 4.55. WN is up 11 cents and near 6.10. KWN is down 10 cents and near 6.35. MWN is 5 cents and near 7.07. Stocks are higher post US Fed meeting, US Dollar is mixed near season high. Crude is higher but near $79.


cloudy field


SN is near 11.82. US March soybean crush is est at 205.9 mil bu vs 197.9 ly. End of March soyoil stocks are es tar 2,294 mil lbs vs 2,146 in Feb but below ly 2,388. Heavy storms hit parts of the Midwest and east S plains. USDA est US soybean plantings was near 18 pct and 10 average. Midwest rains could slow plantings. Weekly US soybean export sales are est near 100-700 mt vs 210 last week. Soymeal sales are est near 150-350 mt vs 307 last week.

CN is near 4.55. US corn plantings was near 27 pct and ahead of normal. Midwest rains could slow plantings but increase soil reserves. Weekly ethanol production was up 3 pct vs last week and 1 pct vs last year. Stocks were down 1 pct vs last week and lowest since  Feb 2 but still up 9 pct versus last year. Restricted farm practices, no till, precision fertilizer and cover crop to meet sustainable Jet fuel demand could lower corn demand. Weekly US corn export sales are est near 650-1,300 vs 1,299 last week.

WN is near 6.10. KWN is  near 6.35, MWN is near 7.07. US HRW south plains forecast is drier. Russia is forecast to see needed rains. Forecast is drier. EU is wet especially west. Wheat could be about weather (US, EU, Black Sea), with May a critical month. Old crop US wheat export sales are est at -100 to 100 versus 82 last week and new crop 200-600 vs 371 last week.



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