The trade sees the market moving very little until the USDA March 31 Planting Intentions Report.
The USDA Ag Outlook Forum will offer an update on the farm economy and baseline projections.
The grain markets still are looking for more fund-buying to keep recent market support alive.
Marketwatchers are not convinced that Mexico is prepared for the logistical nightmare of switching corn purchases.
The USDA released negative soybean estimates Thursday, but the trade still sees crop-weather uncertainty in Brazil and demand supporting the market.
Overall, Thursday’s USDA reports weren’t shocking in data or market reaction. Soybean ending stocks didn't shrink as expected.
The CME Group/Purdue University Ag Barometer showed an increase in farmer sentiment for the third month in a row. Longterm negativity on the economy prevails.
The ERS forecast is based upon the drop in value of commodities produced by U.S. farmers. The lower profit trend is now in its fourth consecutive year.
The CME Group ag markets look for buyers.
Research shows that odds are the soybean market will hit $13.00 before it hits $8.00, this year. The soybean models are even more bullish than corn.