Grain Markets Commentary
Record soybean crush in March
Corn is trading flat to lower and soybeans a little higher. Planting progress is on an average pace to a little ahead in soybeans but the Northern Plains have gotten little planted so far but are looking at a better forecast going forward. That has the market pricing in a lot of negative news for corn. Soybeans have traded much better and we saw a record soybean crush for March, and we expect to see more records as the calendar moves forward. Better weather and growing carryouts are front of mind for the markets currently and funds are pressing prices lower in corn and wheat. Today, we will watch 5.77 & 14.10 for support and 590 & 14.40 for resistance.