Overnight trade has SRW down roughly down roughly 1 cent, HRW down 5; HRS Wheat down 2, Corn is down 2 cents; Soybeans down 1, Soymeal up $0.50, and Soyoil down 5 points.
For the week, SRW Wheat prices are up roughly 11 cents; HRW up 3; HRS down 2; Corn is down 5 cents; Soybeans up 3 cents; Soymeal unchanged, and; Soyoil down 70 points;
Chinese Ag futures (Sep) settled up 10 yuan in Soybeans, up 9 in Corn, down 5 in Soymeal, down 2 in Soyoil, and down 42 in Palm Oil.
U.S. Weather Forecast
Last night’s GFS model run was dry in the northern Delta, Tennessee, and Kentucky Tuesday into Wednesday; a frontal boundary is expected and will likely promote more rainfall
Last night’s GFS model run significantly increased rainfall across much of West Texas Wednesday into next Thursday
The player sheet had funds net buyers of 1,000 contracts of SRW Wheat; net bought 3,000 Corn; net bought 4,000 contracts of Soybeans; net bought 1,000 Soymeal, and; bought 1,000 Soyoil.
We estimate Managed Money net long 23,000 contracts of SRW Wheat; net short 158,000 Corn; net long 8,000 in Soybeans; net long 5,000 lots of Soymeal, and; net short 13,000 Soyoil.
Preliminary Open Interest saw SRW Wheat futures down roughly 5,100 contracts; HRW Wheat down 290; Corn down 14,100; Soybeans up 6,700 contracts; Soymeal up 280 lots, and; Soyoil down 215.
There were no changes in registrations—Registrations total 11 contracts for SRW Wheat; ZERO Oats; Corn 3; Soybeans 1; Soyoil 2,668 lots; Soymeal 564; Rice 267; HRW Wheat 10, and; HRS Wheat 821 contracts.
TODAY—CATTLE ON FEED REPORT—COMMITMENT OF TRADERS—
Tender Activity—S. Korea seeks 60,000t optional-origin corn—
Wire story reports U.S. corn and soybean growers did not necessarily get off to a fast start with planting this year, but good field conditions have allowed some Crop Watch growers to get an earlier start than usual, a huge relief after last year’s record delays.
U.S. March cattle placements seen down 21% from year ago -analysts – Reuters News
|On feed April 1||90.7-96.0||95||11.360|
|Placements in March||54.6-86.1||79||1.591|
|Marketings in March||110.0-112.7||111.8||1.987|
U.S. grocers are struggling to secure meat, looking for new suppliers and selling different cuts, as the coronavirus pandemic cuts into domestic production and raises fears of shortages; Covid-19 outbreaks among employees have closed about a dozen U.S. meatpacking facilities this month; grocery executives at retailers worry supplies of some products could run short just as demand is surging
Over 200,000 Missouri residents have filed for unemployment since March 20, as businesses are forced to close because of the coronavirus outbreak
—Don’t count egg producers among them. Their demand is so high, they’re struggling to keep up; before COVID-19 shaped our new reality, 55% of eggs nationally went to retail; now, 80% of all eggs are going to the grocery store
China’s top pig and poultry producer Wens Foodstuff Group Co. said Friday that its net profits more than tripled in 2019; net profits surged 253 percent year on year to 13.97 billion yuan (about 1.97 billion U.S. dollars) last year
The worsening of a historic drop in the level of Argentina’s Parana River has forced agro-export companies to further cut the size of corn and soy shipments just as this season’s harvest intensifies, the country’s ports chamber said
Ukraine’s corn export prices declined over the past week on declining demand from exporters and an expected decrease in biofuel production, APK-Inform agriculture consultancy said; export bid prices for Ukrainian corn fell to $172-176 per ton FOB Black Sea as of April 23, from $178-183 per ton as of the middle of last week
The condition of French soft wheat and barley crops declined for the second week in a row, farm office FranceAgriMer said
—For soft wheat, 58% of crops were rated good or excellent by April 20 against 61% a week earlier
—The condition of recently sown spring barley deteriorated more sharply, with 69% of crops rated good/excellent against 78% the previous week
—Farmers had sown 52% of the expected grain maize area compared with 25% a week earlier
How Africa risks reeling from a health crisis to a food crisis
- COVID-19 lockdowns hinder food imports, deliveries
- Key rice exporters like India limiting shipments
- Sub-Saharan Africa imports about 40% of its rice
- Restrictions also threaten domestic rice-planting