4/5/2021
Chance Scott, Grain Marketing Specialist
April 5th Agtegra Morning Market Insight

As of 8:30, Corn +1
Argentina’s 2020/21 corn crop is 27% Excellent/Good vs. 26% last week & 32% last year. Dryness concerns are increasing for corn in Brazil. Central Corn Belt farmers are starting ground work, early soybeans, and limited corn this week as ground conditions are fit and temps warm.
 
As of 8:30, Beans +12
Debate/speculation continues over the effect of the cur-rent African Swine fever outbreak in China. Oil World reports that are based on the March 1 U.S. soybean stocks report, last fall’s crop could be underestimated by as much as 1.5 to 2.0 MMT (55-73 mbu).
 
As of 8:30, WW +4, SW+4
Week-end tenders were quiet with Saudi’s state agency buying Hard Wheat. Egypt’s GASC has tendered for August 1-10 shipment of wheat. Flash sale this morning of 130,000 metric tons of soft red winter wheat to unknown destinations.