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Ides of March. Grains Sharply Higher.


Ides of March. Grains are sharply higher. SK is up 40 cents and near 16.78. SMK is near 452.0. BOK is near 75.45. CK is up 19 cents and near 7.10. WK is up 44 cents and near 9.28. KWK is up 43 cents and near 9.78. MWK is up 18 cents and near 10.12.

US stocks are lower. US Dollar is higher. Crude is higher and near $96. Gold, silver and copper are higher. US State of Union address tonight. Dalian soybean, soymeal, palmoil, soyoil and corn were higher.  Malaysian palmoil higher on loss of Black Sea sunoil supplies.

Ukraine invasion continues. Russia may default on sovereign debt due to Ruble collapse.

Brazil soybean harvest near 44 pct vs 25 ly. Some crops estimates near 121 mmt vs USDA 134. US Argentina Ag attaché estimated their soybean crop near 41 mmt vs USDA 45. SK traded over Fridays high, BOK new highs at 75.43, SMK new highs at 452.0.

CK is near last weeks high and 7.12. Ukraine 500-600 mil corn exports stopped. There is talk China may be trying to switch corn needs away from Black Sea. There remains concern about Ukraine ability to plant 2022 crops, Central Brazil dry. Matif corn futures all time highs on lack of Black Sea imports. S Africa corn 15 mmt, USDA 17.

US south plains HRW weather warm and dry. Delta, TN and OH valley wet.

Total Black Sea wheat export supplies could be down 15 mmt. EU needs to stop 5 mmt exports. WK traded over 9.60 resistance, KWK traded over 9.81, MWK testing Friday 10.17 high. Talk India could export record 7 mmt wheat. Carryout increased from 10 mmt to 25. Matif wheat futures making all time highs on Black Sea export loss.

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