April Crude expires today, and we start the day with Chicago Fed Activity Index at 6:30 A.M., fed Chair Powell Speech at 7:00 A.M., Existing Home Sales MoM (FEB) and Existing Home Sales at 8:00 A.M., 3-month and 6-month Bill Auction at 9:30 A.M., Export Inspections at 10:00 A.M., Fed Quarles Speech at 11:30 A.M, and Fed Bowman Speech at 5:15 P.M.,
On the Corn Front March Madness was no different than the NCAA Playoffs and Spring Training soon to be enjoying our ball team in whatever venue it may be. On Friday, the USDA announced that China bought 800 thousand tons of U.S. corn slated delivery in this marketing year. These deliveries could be cancelling this marketing year which runs through the end of August, these are also the first announcement of China buying since January 29th, according to John Perkins with Brownfield Ag News for America. Now with plantings beginning shortly traders will be watching who’s planting where and who’s planting how much. And we have the next USDA Supply/Demand report April 9th. Well sports fans let March Madness carryover this spring. With a lot of news and a lot of orders. In the overnight electronic session, the May corn is currently trading at 555 ¼ which is down 2 ½ cents. The trading range has been 558 ¾ to 554 ½.
Have A Great Trading Day!
Dan Flynn