River is rising RAPIDLY! We’re headed up to 18′ by Mon!! Heavy rain on the IL and Oh river system has many river locations are unable to get barges under the spout for loading and is hampering switching efforts in the fleets.   As much as another 4” is still expected for the OH valley region!



UP 1

Firmer with Rosario and BAGE  lowering their Argentina Prod est (5 MMT and 3 MMT) as the dry weather continues to erode yield expectations. Our USDA Outlook Forum estimates our 18/19 corn acres at 90.0, mostly unchanged with last year.  Barges and vessels at the Gulf are being slowed due to fog. Thur’s Export Sales will be out Fri, due to the Mon holiday and is expected to be 39 -59 mill bu with only 22.6 needed per week.




Mixed with nearly a ten cent range.  Argentina’s forecast doesn’t show much hope for ending their drought conditions and some areas may be getting close to too little, too late.  The Buenos Aries Exchange reduced its Prod forecast from 52MMT down to 46.5. The USDA’s est on Argentine Production at 54 mmt, down 2 from Jan and compares to 57.8 last year. With continuing dryness, that est of 54 will probably continue to shrink on the next report (Mar 8th). There were a couple new sales announced to unknown of 55KMT for nearby and another 55KMT for 18/19. The USDA outlook conference has both US yc and ysb acres est at 90 mill.  These numbers are mainly used for budgetary reasons and most of the Privates are expected a bigger switch over to bean acres.  Time will tell.



UP 4

The dollar was weak and we still have the same weather problems.  There is still some concern over freezing temps in Russia and now Europe, but it is still early.  A little more precip fell on the HRW areas and hopefully more materializes.