The following commentary does not necessarily reflect the views of AgWeb or Farm Journal Media. The opinions expressed below are the author's own.
The Grain Hedge Team provides a macro-focused daily view of the world’s grain markets. Kevin McNew received a bachelor’s degree from Oklahoma State University and his master’s and Ph.D. degrees in Economics from North Carolina State University. He spent 10 years as a Professor of Economics with the University of Maryland and Montana State University focusing on commodity markets and is widely regarded for his ability to boil-down complex economic situations into easy-to-understand concepts for applied life.
Grains pare overnight losses after strong export sales.
March WASDE report due out at 11 AM CST
Exporters sell 110,000 metric tons of Corn for delivery to Japan during the 2017/2018 marketing year.
Showers are expected over the weekend, but meaningful moisture will be localized and in Northern Argentina.
Latest weather model showed an increase of precipitation is expected in Buenos Aires, central and the northeastern growing region next Thursday through Friday.
Ethanol Production increased to 1.057 million barrels per day from 1.044 MBPD.
Weekly production was 3.4% over LY during same week.
The increase in production over the last few weeks brings total production 2.5 percent over LY.
U.S. ending stocks increased to 972 million gallons from 965 million gallons LW.
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