Morning Markets: Corn +1. Beans +1. Wheat +4.
 

MARKET SUMMARY:
CBOT markets opened steady overnight.  Wheat trading up 3-4 cents, while corn and soybeans trade both sides of unchanged.  Vice President Pence plans to go to flooded areas of Nebraska this week.

Crude Oil is up $0.45 at $59.54                            
US Dollar is down $0.198 at $96.326
Global Equities: Japan -0.2%, China +0.2%, and Europe +0.7%  
Dow futures up 65 points at 25,914
Malaysian Palm Oil: +1.2%
EU MATIF Exchange: Corn +0.2% and Wheat -0.4%
China’s Dalian Exchange: Corn -0.1%, Soybeans -1.3%, and Meal -0.8%  
 
 
WEATHER:  
·         The weather outlook for the Midwest is quiet through the week other than some weak disturbances; rains are seen for the Plains this weekend moving into the southern Midwest through the early part of next week; drier weather returns to the Plains early next week.
 

OTHER HEADLINES:
·         Weekly export inspection totals have soybeans 31% behind last year’s pace with the USDA looking for a 12% decline; corn inspections are 26% ahead of last year with the USDA forecasting a 3% decline, and; wheat inspections are running 6% behind a year ago with the USDA forecasting a 7% increase.
·         Sony Perdue continues to suggest that China is going to make large purchases of US ag products once a deal is completed. He went on to say that details are lacking as he did not want to raise expectations while trade negotiations continue. There remains hopeful that a signing ceremony is still possible in April, although June has also been rumored.
·         Pork prices in China jumped to a 13-mo high as the spread of the African Swine Fever has greatly reduced the hog herd. The Chinese government will start buying pork for state reserves for the third time this year. Pork eligible for state reserves must be raised and slaughtered in China and tested free of African Swine Fever.
·         AgRural estimated the Brazilian bean harvest was 63% complete as of March 14, which compares to the 5-yr average of 56%. AgRural predicts the harvest will total 112.9mmt, below Conab’s estimate of 113.5mmt.
·         Corn Planting (% complete): Texas 26% vs 34% last year and 23% average.
 
 
EXPORT NEWS:
 
·         N/A
 
Have a great day!!!!
 
Chelsey White
Emery Branch Manager/Originator || Topflight Grain Coop
593 Emery Rd.
Maroa, Il 61756
217-794-2240
E-Mail: cwhite@topflightgrain.com
Web: www.topflightgrain.com

This material should be construed as market commentary, merely observing economic, political and/or market conditions, and not intended to refer to any particular trading strategy, promotional element or quality of service provided by Topflight Grain Cooperative, Inc. Topflight Grain is not responsible for any redistribution of this material by third parties, or any trading decisions taken by persons not intended to view this material. Information contained herein was obtained from sources believed to be reliable, but is not guaranteed as to its accuracy. Contact Topflight Grains designated personnel for specific trading advice to meet your trading preferences. These materials represent the opinions and viewpoints of the author, and do not necessarily reflect the viewpoints and trading strategies employed by Topflight Grain Cooperative, Inc.
 
 
 
 
 
 
 
 
 
 
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