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Limited Rainfall in US Corn Belt: Rainfall will be limited over the next few days, with return expected later in the week. A significant accumulation of 1-3" of rain forecasted in western Corn Belt, Wisconsin, Illinois, and Michigan during the 5-10 day period, potentially alleviating drought conditions, particularly in Iowa. Below-normal temperatures expected in the eastern Corn Belt this week. ๐ง๏ธ๐ฝ๐พ
Brazilian Dominance in Chinese Market: Brazilian corn and soybeans maintain dominance in the Chinese market. China's soybean imports from the US plummet by 50% in March, while Brazilian soybean imports surge by 81%. Chinese corn imports from Brazil also spike by 72%, with US imports plunging by 78%. High prices and reduced feed demand contribute to the decline in Chinese imports. ๐จ๐ณ๐ฝ๐ฑ
Large Net Short Position Held by Fund Traders: Fund traders maintain historically large net short positions across the grain complex. Net sales of corn and soybeans contracts, along with SRW wheat, persist. The CFTC's weekly Commitment of Traders data reveals continued bearish sentiment. ๐๐ผ๐ต
US House Passes Foreign Aid Package: The US House of Representatives approves a $95 billion foreign aid package, with significant allocations for Ukraine, Israel, and Taiwan. Senate expected to vote on and pass the bill, despite requests to include US border legislation. House also approves bill to ban TikTok unless parent company divests from app. ๐๏ธ๐ฐ๐ค
Neutral Cattle on Feed Report: Friday's Cattle on Feed report viewed as neutral and somewhat supportive of the cattle market. Cattle on feed slightly lower than anticipated, with placements significantly lower than expected. Marketings also below pre-report estimates, contributing to the report's neutral to somewhat friendly outlook. ๐๐๐
Flash Sales Reported by USDA: USDA reports multiple flash sales, including corn sales to Mexico and soybean sales to unknown destinations for both the current and upcoming marketing years. The sales contribute to ongoing export activity amidst changing market dynamics. ๐ฝ๐ข๐ฑ
US Weather + ZERO Chinese Corn/Soybean Purchases
Farmer Selling Caps Corn Rally
FIVE DAY Planting Window: Enough Time for Farmers??
Wheat Prices SURGE on Russia Crop Scare
"The Funds" and Corn Prices: MASSIVE Short-Covering Event
USDA to Project MONSTER Crops
Drier US Corn Belt Forecast- Planting to Accelerate??
"Fraudulent Used Cooking Oil" - Anti-American!!
US Corn Planting is SLOW
Did Farmer Selling Cap the Corn Rally??
Brazil Flooding? US Delays? WHY Did Grains Rally This Week??
Rail Strike Imminent? + More Corn Belt Rain
Corn Jet Fuel News: What Did the Government Tell Us??
US Continues to Lose Soybean Export Share
Rain, Flooding, and Tornados: Planting Delays Ahead??
Corn Belt Rains are BACK! Drought Buster? Planting Delays??
India's Wheat Stocks are LOW! Game-Changer for Prices??
Do Traders Care About Planting Delays?? (Corn Prices)
Why Did WHEAT Rally on Monday??
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