AgResource Farm Marketing Advice for Tuesday: 1/ No new advice. Its hard to believe, but much of North Dakota has not witnessed a lick of rain during March. The dryness is historic and as spring temperatures rise, the need for soil moisure to germinate seed is incresasing. Farmers are fretting about the lack of soil…
Brazilian Heat Continues Under High Pressure Ridge Next 10 Days: The forecasting models offer hints of improved rain changes across the northern fringe of Brazil’s safrinha corn belt beyond April 5. Confidence is details so far out is lacking. Bias-corrected forecasts maintain arid conditions across a majority of Central Brazil throughout the next two weeks.…
Russian Interior Wheat Weakens, Rising Ruble Adds Weight: World cash wheat prices drifted lower to start the week. German fob wheat for May-Jun delivery at $256-258/MT, which is at parity with comparable Gulf HRW. There are also reports that spot Russian milling wheat is buyable at $253/MT, and the return of Russia as an exporter…
The already tight global balance sheet for all vegetable oil has further contracted in recent months. Vegetable oil production in S America and SE Asia has been less than expected, and annual production estimates have been trimmed slightly. However, global production of 209 MMTs will still be 101% of last year and record large. Global…
Soybeans Trade Lower on Profit Taking: Soybean futures were lower to start the week on fund profit-taking ahead of the USDA reports on Wednesday. May soybeans fell under the 50-day moving average for the first time since August. The break uncovered end user support that pared losses into the close. US soybean export inspections inched…
