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Hedge Plus Reports

U.S. drought expands across Midwest/Plains with late-week widespread relief. Argentina Pampas stays dry into March with southern showers next week while Brazil rainfall isolates northward stressing the safrinha crop. India heads for record warm March with 40C+ to stress wheat
 
Good news for soybean farmers...
 
The Trump admin is requiring big oil refiners to cover at least 50% of biofuel blending volumes with potential to go higher. This boost supports higher soybean oil demand for biodiesel and restores lost feedstock demand for American soy farmers
 
Private exporters reported sales of 178,000 metric tons (7 million bushels) of corn for delivery to Japan. Of the total, 154,000 metric tons is for delivery during the 2026/2027 marketing year, and 24,000 metric tons is for delivery during the 2027/2028 marketing year
 
At the pause...
 
Corn and soybeans gained modestly on export demand and firm meal prices with Brazilian rains aiding soybeans while wheat fell on technical selling amid ample supplies
 
May CORN up 2 cents at $4.44
May SOYBEANS up 5¾ cents at $11.70¾
May WHEAT up 1 cent at 5.70¾
 
Watch for solid corn and soybean export sales momentum today and softer Q4 GDP at 1.4% due to the government shutdown. Expect steady crop values and lower cattle and hog slaughter trends. Overall, ag fundamentals hold firm ahead of planting despite macro softness
 

A weak export sales report from the USDA this morning. Everything either at the low end of expectations or below them. Corn and soybean sales each down about 50% from the week prior

Account activity will pressure corn prices as traders get out of the March contract but prices should hold. Corn prices lean bullish with the close above the 40-day MA, usage well ahead of USDA targets and low soil moisture across the major growing areas in the Corn Belt
 

Wheat Sentiment: 5/10 Neutral

Improving southern Plains rain chances offset by SovEcon’s modest cut to Russian export forecasts. Shrinking daily volume during the pullback and the reversing wheat-corn spread suggest selling pressure may be easing ahead of the weekend

Soybeans Sentiment: 7/10 Bullish

Soymeal reaching 6 year export high and the new Indonesian trade agreement help to anchor the soy complex. Persistent Chinese buying chatter helps, though market seeks flash-sale confirmation

Corn Sentiment: 5/10 Neutral

Record ethanol output and the first Brazilian DDG cargoes heading to China. Soil moisture deficits across the western Corn Belt and the 6-15 day rain outlook add a weather layer that traders are watching closely ahead of spring fieldwork

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