Commentary: The soybeans were steady overall. The bean oil was the leader to the upside. The USDA will release the supply and demand on Thursday. There are a couple considerations at present besides the report. The Argentinian, and now the Brazilian producers are having difficulty both moving and harvesting this years production. The interior in some areas is locked down to prevent the spread of the corona virus. This could have a real impact there on production. The near term effect could create a shortage of available soy there. The Brazilian export pace has been about record through March . This will slow considerably. The US could be in a position to garner sales to China in the near term. In addition the South American crops by most accounts are declining in size. This potentially is important for the Thursday report.
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John J. Walsh
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