PDF attached


USDA report day.


equities are higher this morning after selling off hard Tuesday after the Fed indicated US rates could go higher. The USD is higher and WTI crude oil lower. There were several ag import tenders overnight, not surprising after prices collapsed on Tuesday. Before
the electronic session, futures for corn, soybean meal and soybean rebounded (meal the leader). Soybean oil is higher on technical buying. A large rise in soybean oil open interest yesterday suggests a lot of shorts were added. Wheat remains under pressure
from follow through selling related to optimism that the Black Sea grain deal will get done.






Description automatically generated


World Weather, INC.


Weather, INC.


  • Not
    many changes overnight
  • Central
    and eastern Argentina into far southern Brazil, Uruguay and southwestern Paraguay will be dry or experience net drying conditions for the next ten days
  • Western
    and far southern Argentina will get periodic rainfall of benefit for late season crops that have survived the drought
  • Center
    south and center west Brazil are expected to be wetter biased during the coming ten days that may slow late season soybean harvesting and Safrinha corn planting
  • India’s
    rainfall will continue light and erratic, but the moisture and cloud cover will help to prevent temperatures from getting excessively hot
  • Eastern
    China will dry down for a while except for the western and southern parts of the Yangtze River Basin where some occasional rain is expected
    • Temperatures
      will be warmer than usual and winter wheat greening will continue while rapeseed development accelerates
  • Central
    Queensland through northeastern New South Wales will get rain during the balance of this week and into the weekend offering relief for dryland crops suffering from limited precipitation and poor soil moisture
  • Germany,
    France and the U.K. will receive significant precipitation over the coming week improving runoff and water supply
  • Eastern
    Spain and the lower Danube River Basin will continue drier biased
  • Excessive
    snowfall and valley rain will impact California and western Washington and western Oregon Thursday through a part of next week
  • Waves
    of snow will continue form the northern Plains into the northern Midwest during the coming week
  • Needed
    snow will accumulate in Canada’s Prairies this weekend improving spring planting moisture in some areas
  • West
    and South Texas will continue to get very little precipitation for a while

World Weather and FI


Ag calendar

March 8:

  • USDA’s
    World Agricultural Supply and Demand Estimates (WASDE), 12pm
  • China’s
    agriculture ministry (CASDE) releases monthly report on supply and demand for corn and soybeans
  • Bursa
    Malaysia Palm Oil Conference and 2023 Outlook, Kuala Lumpur, day 3
  • EIA
    weekly US ethanol inventories, production, 10:30am
    Outlook 2023 conference, Canberra, day 2

March 9:

  • USDA
    weekly net-export sales for corn, soybeans, wheat, cotton, pork and beef, 8:30am