4/3/20 8:00am
Soybean export sales picked up for the third straight week this week at 35.2 million bushels, up from 33.2 mbu the week prior and an 11.1 mbu bottom three weeks ago, though still less than half the comparable week last year. That LY total was the last big number for ‘18/19, however, with weekly sales averaging less than 9 mbu per week here on out. ‘19/20 sales would have to average 23.5 mbu per week from next week through August to meet the USDA’s current estimate for a 77 mbu.
Funds credited with selling 10K contracts yesterday bringing their net short to 156K contracts. Soybean selling guessed at 5K making their net short there 23K.
April WASDE Supply Demand report next Thursday. Tweaking demand numbers for this report.
Brazilian real making another new low against the US dollar.
Rains and mixed precip were scattered over the past 24 hours and remain so in the Midwest this morning; precip will continue to move through today and tomorrow and again early next week, with extended maps varied but favoring the wet side. Temp forecasts are definitely trending cooler into mid-April.
