COMMENTARY 4/13/18

A quiet way to end the week and a cool weekend is ahead! In SA, showers are expected for the N half of their double crop corn while the S stays relatively dry.

CORN

DOWN 2

Quiet. Fund selling. Nearby freight continues to be on a terror as loaded barges in the Gulf are slow to be emptied making empties in the N hard to come by AND EXPENSIVE.  A quiet weekend should help but rain will likely set things back further.


BEANS              

DOWN 6

Higher at first, but then Fund selling kicked in.  Tariff tensions with China appear to be mellowing.  China reportedly booked at least 30 cargoes of beans from Brazil this week and Argentina also bought 120K MT from Brazil too. NOPA crush will be out on Mon and should be an all time record!

 

Wheat

DOWN 8

Cold in the HRW belt for the weekend. All indications are that the weather front moving across the Western US will miss the driest portions of the HRW belt, but there is hope as one to two more systems develop in the next couple weeks. W Australia is expected to start planting in another week or two.