China continues to buy

Overnight- Grain and oilseeds are slightly lower with wheat the biggest loser so far.

China continues to buy corn out of Ukraine and has bought sorghum out of the USA. China has been buying domestic grain for stockpiling which is propping up their domestic prices.

The CCP is supporting better production practices and is reclaiming polluted farmland.

China is trying to decrease their global imports of grain and oilseeds going forward and we are seeing that in lack of US sales to them.

Brazil 2nd crop corn is 86% planted and it is getting put in at a quick pace.

There will now be more focus on Brazilian weather as we move closer to April and the end of the monsoonal flow.

Bottomline

We have moved off recent lows and will see if technical buyers will continue to absorb sell-off attempts. The markets will watch the Brazilian weather closely going into the end of the month. March WASDE on Friday could give some friendly demand news on the corn side but could be bearish the soybean balance sheet. We must balance short-term opportunities with longer-term possibilities. NFC Grain Comments Options -new (14)