Grains higher overnight-Is it because China is off holiday?

Grains higher overnight-Is it because China is off holiday?

Overnight- Corn, soybean and wheat futures are higher overnight. Rumors that China is back in the Brazilian market.

Will the funds let the gains remain this morning or are they going to try and step.

The big news over the weekend was the Biden administration will make it harder for ethanol to work for sustainable aviation fuel, but the news was not as harsh as the headline. The plan would penalize ground converted to farming and reward sustainable farming practices like no- till.

The US is losing farm ground every year not converting any.

If you have not started looking into your carbon intensity score, it is time to start. Carbon credits will likely become a bigger factor in all operations going forward.

Private estimates for Brazil soybeans continue to move lower.

Dr Michael Cordonnier dropped his estimate to 145 from 149MMT

Bottomline

Weather has not turned bullish but maybe a Chinese buying spree will get the momentum to turn over a little and we can take advantage of some better prices. NFC Grain Comments Options -2.20.24