Quiet day overall. President Trump slapped some tariffs . This had little effect. The private guesses on acreage are coming in. Bean acres 1-2 million more. Corn one million less on average. The weather patterns in Arg are wetter . Some are adding a few bushels back. Remains to be seen. The export program from Brazil will cut into the US. Will China mess with US beans. Tougher this year due to the ARG crop. The market will now focus on the Planting estimate. It has been my contention the world is amply supplied. The Basis would tell you that. Not sure those facts matter. rallies from here are opportunities to the producer.
The Corn bounced a bit. The market should stabilize here and look at the acreage. A reduction sets up a opportunity into the summer. The market is supplied, but a interuption could give a nice rally to the producer. Corn demand remais stout and should or could for a bit here. To discuss any specifics call 800 993 5449 jwalsh@walshtrading.com