Morning Comments April 9, 2020

Caseih Planting 70

Opening Calls:

Corn 2-3 higher

Soybeans 2-3 higher

The April WASDE will be released at 11 A.M. today. We will recap the information and send out an email not long afterward. Traders will be watching to see what the USDA does to ending stocks on corn. 

OPEC meeting is scheduled for 9:00 A.M. (CDT) this morning. Most of the EU will be closed on Monday, in observance of Easter Monday, and the CBOT is closed tomorrow for Good Friday. 

Yesterday, China’s ag ministry upped their estimated corn imports by 1.0 MMT. U.S. corn values delivered to Korea still a little cheaper than Argentina. Ethanol numbers from Wednesday, have ethanol production at a 10 year low. Also, stocks rising over 5.0%.