Coffee Cup Comments
Good morning. The grain markets are trading higher on continued buying interest due to strong exports, domestic demand, and weather concerns. While it is still early in the planting season the colder than normal temperatures in much of the grain belt has delayed some planting activity. Dry weather in the Northern plains has some waiting to plant until moisture arrives. The March NOPA crush report came out a bit smaller than trade estimates at 177.98 million bushels. Still a large number and the sixth largest monthly crush number on record. We still need to ration some old crop soybean usage in the U.S. before new crop supplies become available. Look for supported but choppy trade today. Have a fantastic Friday!