The United States Department of Agriculture announced two “flash” export sales this morning, including 100,000 metric tons of soybean meal to Italy and 125,640 metric tons of corn to unknown destinations, both for the current marketing year. Soybeans are finding support, with upside driven by strong gains in soymeal.
Meanwhile, the U.S. weather and planting outlook remains less than ideal, though it could ultimately benefit the crop depending on how conditions develop later in April. A wet pattern is settling in and is expected to persist over the next 10 days, stretching from central Texas to the Great Lakes. For many areas, those rains are welcome, as conditions remain dry or on the edge of drought.
Friday Market Wrap Up with Pj Conradt with Simple Hedge
