PDF attached

 

Good
morning.

 

USDA
reported private exporters reported sales of 136,000 metric tons of corn for delivery to China during the 2022/2023 marketing year. WTI crude oil was slightly higher earlier, gold higher, Dow Jones lower, and the USD more than 30 points lower. Higher soybean
meal is supporting soybeans while soybean oil is lower despite a 3 percent gain in palm oil futures. Offshore values were leading SBO lower by about 87 points this morning and meal $3.40 short ton higher. Corn was lower and wheat mostly higher. The KC/Chicago
wheat spread hit a new 12-year high. Selected US state winter wheat ratings posted a decline (CO & TX) from the previous week while OK improved. KS was unchanged.

 

Fund
estimates as of March 27

 

 

 

Weather

 

World
Weather Inc.

WORLD
WEATHER HIGHLIGHTS FOR MARCH 28, 2023

  • U.S.
    hard red winter weather in the southwestern Plains and West Texas cotton, corn and sorghum areas will continue to experience dry or mostly dry weather over the next ten days
  • U.S.
    Red River Basin areas of the North will experience two new storm systems over the coming week that will add more moisture to the region’s flood potential
  • Wet
    biased conditions continue in the Delta, lower Midwest and Tennessee River Basin during the next ten days raising concern over field working delays
  • California
    and western parts of Oregon and Washington will experience plenty of moisture for a while
  • Argentina’s
    weather will be favorably mixed with next week wettest
  • Brazil
    weather will also be favorably mixed with net drying continuing for a while longer in center south crop areas favoring late season soybean harvesting
    • Safrinha
      crops should be developing favorably
  • Northern
    India still has one more round of rain coming up for late this week in some of its wheat country maintaining concern over the quality of that crop and a few others produced nearby
  • Northern
    Pakistan and the Middle East are also wetter than usual and the moisture while beneficial for some winter crops and the planting of spring and summer crops some drier weather may soon be needed for early maturing crops to protect their quality
  • Western
    CIS and much of Europe will be wetter biased for a while, but spring fieldwork is only just beginning in the south
  • Spain,
    Portugal and northern Africa remain quite dry and little change is likely for ten days, even though a few showers may evolve in Tunisia and northeastern Algeria briefly next week
  • South
    Africa and Australia weather outlooks are similar to those of Monday

Source:
World Weather, INC.

 

 

Bloomberg
Ag calendar

Tuesday,
March 28:

  • EU
    weekly grain, oilseed import and export data

Wednesday,
March 29:

  • EIA
    weekly US ethanol inventories, production, 10:30am
  • Coffee,
    rice and rubber exports from Vietnam

Thursday,
March 30:

  • USDA
    weekly net-export sales for corn, soybeans, wheat, cotton, pork and beef, 8:30am
  • Port
    of Rouen data on French grain exports
  • USDA
    hogs & pigs inventory, 3pm
  • HOLIDAY:
    India