PDF attached

 

Good
morning.

 

Higher
trade on light technical buying. China bought additional US corn per USDA 24-H sales. News is thin. USDA export sales were mixed. Turkey bought a less than expected 395,000 tons of tons of wheat. Look for positioning ahead of the March 31 USDA reports.

 

Fund
estimates as of March 29

 

Weather

 

World
Weather Inc.

WORLD
WEATHER HIGHLIGHTS FOR MARCH 30, 2023

  • Portions
    of North Africa will receive needed rain Sunday into Tuesday of next week in northeastern Algeria and parts of Tunisia with coastal areas wettest; other areas in North Africa will be dry until the second weekend for the forecast with light showers are expected
  • Northern
    India will receive additional rain today into early next week raising potential for wheat and other winter crop quality declines
  • Argentina
    will be wettest in the central and north through the coming seven days with rain possible in the south during the April 6-12 period
  • Brazil’s
    center south crop areas will continue in a net drying mode for a while longer supporting late season fieldwork; rain is expected to return in the April 3-10 period
  • Two
    storms slated for the U.S. Red River Basin in the  coming week will add to the snowpack and runoff potential when temperatures turn warmer in April
    • Flooding
      will be serious and possibly damaging unless colder than usual weather prevails through April
  • Delays
    in early season U.S. corn and rice planting will continue in the Delta and corn planting delays may extend northward during the first half of April impacting the lowermost Midwest as well
  • No
    changes in drought status will occur for a while in Mexico, southwestern Canada’s Prairies or eastern Spain
  • Europe
    and the westernmost CIS will experience plenty of moisture in the next two weeks outside of the Iberian Peninsula
  • China
    weather should be mostly good for a while and the same is expected in Australia and South Africa
  • welcome
    rain Sunday into Tuesday, although the precipitation event should weaken over the next couple of days

Source:
World Weather, INC.

 

 

Bloomberg
Ag calendar

Thursday,
March 30:

  • USDA
    weekly net-export sales for corn, soybeans, wheat, cotton, pork and beef, 8:30am
  • Port
    of Rouen data on French grain exports
  • USDA
    hogs & pigs inventory, 3pm
  • HOLIDAY:
    India

Friday,
March 31:

  • US
    prospective planting data for several crops, including corn, soybeans, wheat, cotton, barley and rice, noon
  • USDA’s
    quarterly stockpiles data for corn, soybeans, wheat, barley and sorghum
  • ICE
    Futures Europe weekly commitments of traders report
  • CFTC
    commitments of traders weekly report on positions for various US futures and options, 3:30pm
  • FranceAgriMer’s
    weekly crop condition report
  • Malaysia’s
    March palm oil export data
  • US
    agricultural prices paid and received, 3pm

Source:
Bloomberg and FI