2 FI PDF’s attached


There were no surprises in USDA’s corn for ethanol use for the month of March.  DDGS production is on the rise. 


USDA March US soybean crush came in 0.1 million bushels below expectations at 188.2 million, 6.1 million per day, up from 5.9 million per day for February and down from 6.2 million for March 2020. Soybean oil stocks declined to 2.245 billion from 2.306 billion at the end of February and are below 2.327 billion a year ago.  Stocks were 78 million pounds below a Bloomberg trade guess.  Soybean meal stocks also fell to 448,000 short tons from 584,000 at the end of February.  We find this bullish SBO and meal relative to soybeans.  See PDF for regional breakdown. 





Terry Reilly

Senior Commodity Analyst – Grain and Oilseeds

Futures International
One Lincoln Center
18 W 140 Butterfield Rd.

Oakbrook Terrace, Il. 60181

W: 312.604.1366


ICE IM:  treilly1

Skype: fi.treilly


Description: Description: Description: Description: FImail


Trading of futures, options, swaps and other derivatives is risky and is not suitable for all persons.  All of these investment products are leveraged, and you can lose more than your initial deposit.  Each investment product is offered only to and from jurisdictions where solicitation and sale are lawful, and in accordance with applicable laws and regulations in such jurisdiction.  The information provided here should not be relied upon as a substitute for independent research before making your investment decisions.  Futures International, LLC is merely providing this information for your general information and the information does not take into account any particular individual’s investment objectives, financial situation, or needs.  All investors should obtain advice based on their unique situation before making any investment decision.  The contents of this communication and any attachments are for informational purposes only and under no circumstances should they be construed as an offer to buy or sell, or a solicitation to buy or sell any future, option, swap or other derivative.  The sources for the information and any opinions in this communication are believed to be reliable, but Futures International, LLC does not warrant or guarantee the accuracy of such information or opinions.  Futures International, LLC and its principals and employees may take positions different from any positions described in this communication.  Past results are not necessarily indicative of future results.