Grain Exchange – 3/26/2020
Markets are trading lower this morning. The markets are remaining hopeful for increased export demand to China. Export sales were big. High unemployment number weighing on market even with the passing of the massive coronavirus bill.
Corn market is having a hard time adjusting to the slow use by the ethanol plants. An increase in corn export sales is needed to offset the ethanol usage.
Soymeal demand is the leader in the soy complex. Brazil and Argentina warn that delays could be seen as travel restrictions slow the flow of grain. Argentina is starting to harvest, but farmer selling is expected to be slow due to poor peso values. China soybean crushers are short of supply because of slow movement from South America.
Wheat has been the bright spot in the grains lately. The market remains strong as millers around the world work to stock up on flour supply. The US continues to work on the Chinese export market.
USDA Grain stocks and Prospective planting report will be released on Tuesday, March 31st. Keep in touch with your grain marketing specialist to handle this quickly changing market.
Keep positive, we will weather this storm.