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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
Corn and Soybean Prices COLLAPSE Following USDA Data Dump
Report Day + China Stockpiling Corn
How Will USDA Surprise Us on Friday??
PERFECT STORM of Bearish News for Soybean Market??
NASTY Winter Storm Hits the US
EVIL Speculators Drive Grain Prices Lower
Grain Demand: Some POSITIVE News (Exports and Ethanol)
UNDER PRESSURE: Row Crop Markets Struggle Amid Brazil Rains
UGLY Start to 2024: Why Did Corn and Soybean Prices Collapse on Tuesday??
Drastically WETTER Brazilian Forecast: Soybean Prices at Risk??
US Drought STILL a Problem- Are Farmers Worried??
Grains RALLY on Black Sea News - Follow-Through Buying Possible???
Soybean Struggle Bus: More Rain in Brazil
US/Mexico Rail Situation Gets Serious- Grain Exports at Risk!!
Mar24 Corn Fresh Low Close + Mexico Rail Update
US/Mexico Rail Shutdown: Big Deal for Corn Market??
Foreign Entities Are Buying MORE Land in the US
Why Can't Soybeans Rally on Brazil Weather??
Dovish Fed: Ag Borrowing Costs to DROP
Argentina Devalues Currency: Soybean Market KILLER??
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