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The cattle market will deal with very large feedlot numbers from mid-March through May.
Investors seen watching the weather maps along with the uptrend line in May corn, next week.
* Argentina expected to remain unfavorably dry
* Country is world's top exporter of soy products
* Speculators increase long positions in CBOT soy, corn
There are always a lot of moving parts in the bean complex
Investors are digesting the USDA’s latest U.S. 2018 acreage of 90.0 million corn and soybean acres.
* Soy set for 3rd weekly rise as drought grips Argentina
* Traders weigh chances of rain as analysts cut crop
* Grain markets digest USDA 2018-19 supply/demand outlook
At the USDA Ag Outlook Forum, a Brazilian analyst stated that Brazilian corn is becoming more cost-competitive with U.S. corn.
ARLINGTON, Va., Feb 23 (Reuters) - Brazilian soy farmers are
expected to harvest a record 117.5 million tonnes of soybeans in
the 2017/18 crop cycle, a top executive at Brazil-based
consultancy Agroconsult said on Friday.
The forecast for the world's top soybean exporter was up
from the consultancy's expectation last month for a crop of
114.1 million tonnes and would be above the record harvest in
the previous crop year of 114.6 million tonnes.
3. German Grain Cash Prices Feb 23
Lowest known bids in EUR/t, delivered.
At local time 11:30 GMT.
Barley, min 62-63 kg/hl
bid offers change
Delivered Hamburg Feb 18 166,00 170,00 +1.00
Delivered Hamburg Mar 18 166,00 170,00 +1.00
Delivered Hamburg Sep 18 159,00 164,00 0.00
Ex Store Saxony Thüringen Feb 18 150,00 154,00 +1.00
Wheat, A-quality, 13 % min
Protein, Hagberg 275
U.S. President Donald Trump has called a meeting early next week with key senators and Cabinet officials to discuss potential changes to biofuels policy.