Acreage Surprise on Thursday will Drive Trades Today

头条新闻

面积周四会惊喜l drive the trade on Monday. First Crop Progress and Conditions report of 2018 scheduled for released today. Better than expected rains over the weekend in Argentina.

Planting Intentions Give Bullish Surprise

谷粒trade higher with follow-through buying after a bullish surprise in the planting intentions report. Soybean acres were lower than expected at 88.9 million acres vs 91.1 expected. This was a BIG surprise and was 1 million acres below the lowest estimate.

Corn acres were reported at 88 million acres vs 89.4 million acres expected. Spring wheat acreage was higher than expected with 12.6 million acres reported vs 11.4 million acres expected.

Argentina

Weekend rains were heavier and more widespread than expected. Rains covered western and south central parts of Argentina. Weather is expected to be drier over the next few days with temperatures dropping. More showers are expected by the end of the week and the 6-10 day outlook looks to bring more moisture. Corn harvest is 18 percent complete and soybean harvest is 8.8 percent complete according to the Buenos Aires Grain Exchange. Late and 2nd crop corn is at the grain-filling stage throughout Cordoba, Buenos Aires and Santa Fe.

Brazil

Showers over the weekend slowed soybean harvest but helped 2nd crop corn. Precipitation is expected in the northern grain producing regions over the next 10 days and stay dryer in the southern regions.

Crop Progress and Conditions

USDA将在今天重新启动其作物进度和条件。该报告于4月至11月每周发行。贸易商预计冬小麦条件会对冬季冬季小麦作物造成重大损害。最近的条件报告已具体报告。

Monthly Oilseed Crushings

Scheduled for release at 2 PM CST. The average analyst guess expects 163.5 million bushels of soybeans were crushed in February. The range of guesses spans from 162.5 million bushels to 164.9 million bushels.

The risk of trading futures, hedging, and speculating can be substantial. Grain Hedge is a Branch of Foremost Trading LLC (NFA ID: 0307930)

—Kevin McNew