March WASDE 11AM

Overnight- Corn is 4 cents lower while soybeans and wheat are unchanged as we await the March WASDE.

Is there anything that will be friendly in the report?

USDA could increase the corn use for ethanol in this report.

USDA needs to cut Brazil production as they are the highest estimates comparatively.

Soybean crush will need to be increased at some point.

On the non-friendly side.

Soybean exports will likely be cut again but probably not in this report.

The USD continues to move lower and is back below 103.00 down 2% since February high.

Bottomline

The corn and soybean markets have had a good week and hopefully today’s report will not flip sentiment back to the bears. The reality is a neutral report should not hurt the market much and we can let the markets continue to try and put some risk premium into the market. NFC Grain Comments Options -new (16)