PDF attached

 

Good
morning.

 

USDA
reported private exporters reported sales of 204,000 metric tons of corn for delivery to China during the 2022/2023 marketing year. Grains are lending support to soybeans this morning after Cargill said they plan to stop exporting Russian wheat exports. This
comes after Russia earlier suggested a cap on sunflower exports. US wheat futures hit a 4-week high. Soybeans are slightly higher from follow through soybean meal buying. Soybean oil eased a touch. Corn is higher from strength in wheat and Black Sea shipping
uncertainty. A Bloomberg poll looks for weekly US ethanol production to be up 4,000 thousand barrels to 1001k (989-1020 range) from the previous week and stocks down 196,000 barrels to 25.992 million.

 

Fund
estimates as of March 28

 

 

Weather

 

World
Weather Inc.

WORLD
WEATHER HIGHLIGHTS FOR MARCH 29, 2023

  • No
    significant changes overnight
  • 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; the first is Thursday into Saturday and the second will be during mid-week next week
  • 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
    • Next
      week will trend wetter
  • 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
  • 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
  • China’s
    Yellow River Basin will get some welcome rain Sunday into Tuesday, although the precipitation event should weaken over the next couple of days

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
    <