Mixed trade overnight as we near April WASDE tomorrow

Grain markets are mixed overnight as we move towards Friday’s WASDE release. This WASDE is the last one before the new crop balance sheet gets released in the May report. The areas of interest for tomorrow are the South American production numbers which should be trimmed for Brazilian soybean production and Argentina corn and soybeans could be trimmed as well. Then we look for export number adjustments due to change in assumptions about Ukraine’s ability to export. It is usually one of the less volatile reports of the year but any surprises will come out the above areas. The weekly export sales were strong and frontloaded in the current marketing year in both corn and soybeans. Telling us that no rationing is happening at current pricing. Weather across the corn belt looks wet and cool for the next 10 days with much of the precipitation in the ECB and no current relief for the Southern Plains. NFC Grain Comments 4.7.22 (1)

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