Morning Comments March 3, 2021

Grain Bin Landus Cooperative

The markets are looking for news. Trade thus far this week has been rangebound on fairly light trade. The weekly EIA ethanol stats will be out this morning and weekly export sales will be out tomorrow. The March WASDE supply/demand report will be out next Tuesday. The nice weather is allowing some corn planting in the deep south and the Midwest is to see temperatures in the 60’s next week. 

The U.S. dollar has strengthened lately and has given pause to additional export trade. Brazil has over 200 vessels in the que waiting to load beans and corn, caused primarily by soybean harvest delays. Planting pace on their Safrinha corn is 55%, compared to 92% last year. 

Opening Calls:

Corn: down 3-5c

Beans: down 7-10c