TUESDAY 3/31/09 - A.M.
USDA is forecasting US farmers will seed 3-4 million less acres this year. Some of these acres may have come from double crop srw acres and some from growers indecision when USDA sent out the inquiry forms. Soybeans are up 40, corn up 4, and wheat about unchanged.
CCC is tendering for 2.2 million bu of sww today. Farmer selling is slow and sww conditions are improving with the moisture.
TUESDAY 3/31/09 - P.M.
It feels like the Index Funds propped up the futures today for the end of the first quarter. Russian wheat is still nearly $1/bu cheaper than srw to Egypt. Japan is still out for their annual end of the fiscal year meetings.
Good moisture in the sww areas (except Almira), hopefully it will warm up soon.
