Highlights

·         Higher overnight in wake of lower US$ and recent run-up in crude oil; Many looking for continued consolidation ahead of next Wednesday’s crop production report from the USDA

·         USDA may have some changes in store for us next week as corn production numbers from a few key states may be adjusted as the result of a re-survey; Planting Intentions on March 31^st

·         Many seasonal traders looking for a spring rally to coincide with wet planting weather; Adverse weather the last 2 years has resulted in excellent corn yields for many producers

·         Outside markets slightly supportive this morning

·         Specs can look at bull spreading beans on breaks and buying corn on breaks

Weather

·         The Midwest will see a warming pattern over the next two weeks, which should be beneficial to corn growers; Temps will be below avg through the southern US,

·         Precip for 6-10 will be slightly above avg for most of the country

·         Look for grain markets to quickly turn to weather in the coming weeks

Looking for trade recs?  Email Joe Vaclavik at jvaclavik@mfglobal.com for today's ideas!