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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
China Might Be Canceling Corn Purchases
Vilsack: China Has Political Motives for Avoiding US Grain
Evil "Bankster" Predicts 1980s Style Interest Rates
Commodity PARTY!! Will Grains Ever Be Invited??
US Growing Season: "East vs. West" Situation??
Is Russia Curbing Wheat Exports? Rally Opportunity??
Corn Erases Report-Day Gains, China to Discourage Imports??
Crop Progress + BIRD FLU Scare
How BULLISH was the USDA Report?? (Corn Prices)
Could Soybeans Become the "King" of US Crops??
Bridge Collapse: Any Ag Impact??
China Sanctions + "Useless" USDA Acreage Report
Iowa SNOW Event + "The Funds"
Biden Finalizes Rule to INCREASE EV Sales
Chinese Imports of Brazilian Corn and Soybeans SURGE
Will MILLIONS of Dollars from the USDA Expand Global Markets??
Corn Belt "Drought Buster" Next Week???
Short-Covering + RECORD Soy Crush
Soybean Reversal + US Drought Concerns
Brazil is Dry: Problem for Corn Crop?? + ADM Justice Dept Probe
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