close [X]
March 08, 2018 | Grain Hedge Insights | Kevin McNew | Views: 518

March WASDE Report Due Out Today

Grains Pare Overnight Losses

Highlights

Grains pare overnight losses after strong export sales.

March WASDE report due out at 11 AM CST

Exporters sell 110,000 metric tons of Corn for delivery to Japan during the 2017/2018 marketing year.

 

Argentina Weather

Showers are expected over the weekend, but meaningful moisture will be localized and in Northern Argentina.

Latest weather model showed an increase of precipitation is expected in Buenos Aires, central and the northeastern growing region next Thursday through Friday.

 

Ethanol

Ethanol Production increased to 1.057 million barrels per day from 1.044 MBPD.

Weekly production was 3.4% over LY during same week.

The increase in production over the last few weeks brings total production 2.5 percent over LY.  

U.S. ending stocks increased to 972 million gallons from 965 million gallons LW.

 

 

Export Sales

Corn and soybeans beat export sales expectations by a large margin.

Corn sales increased 8 percent compared to last week on strong buying from Japan, Mexico, Taiwan and Vietnam.

China accounted for 1.2 MMT of soybean sales this week.   

  Actual Estimated
Corn 1,857 1,000-1,500
Soybeans 2,509 900-1,400
Wheat 391 200-500

 

The risk of trading futures, hedging, and speculating can be substantial. Grain Hedge is a Branch of Foremost Trading LLC (NFA ID: 0307930)

More Articles