Brian Grete

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The fund-led rally in soybeans is presenting a selling opportunity. While not as strong, there’s also a selling opportunity in the corn market on the corrective rebound.
USDA’s March planting intentions were much higher than expected for corn and lower than anticipated for soybeans. This was likely the highest acreage figure the market will see for corn and the lowest for soybeans this year.
Too much supply, not enough demand and limited prospects for a significant improvement in export demand leave the grain and soybean markets grasping for bullish news on the weather front. A summer weather rally may happen, but I wouldn’t use pen if writing that into your marketing plan.
Grains are being supported by a risk-on stance to start the week.
Corn pegged at 12.484 billion bu.; soybeans at 3.083 billion bu.