Good morning!
It has been a quiet night session so far as
trader’s wait for the 11am release of the USDA’s Feb S&D report.
Average trade estimates for that report now show corn ending stocks at
618mb (a slight increase from January) and soybean ending
stocks at 129mb (a slight decrease from January).
Other than that, it is quiet. The outside markets
are mixed with crude up a touch while the dollar is a touch weaker
(after being sharply higher yesterday). Weather looks unchanged for
South America with Argentina to stay mostly dry in
the nearby, while weather models for the extended forecast are
inconsistent.
Currently
Corn is steady/mixed
Soybeans are up 4 to 6 cents
Dustin Weiner
Farmers Cooperative Company
Ames, Iowa, USA
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