Wake Up Call Allendale Advisory Center: Grain markets are mixed with corn and soybeans steady, while wheat is under a bit of pressure due to better than expected crop conditions. Outside markets are finding strength as the US Dollar, crude oil and equities are higher.
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Spreading between corn and soybeans has been the feature as traders assume price relationships will impact planting rotations. Producers have told us they are sticking to their rotation plans at least through the central cornbelt.
The Malaysian March palm oil production report next Monday, April 11 may overshadow the USDA report the following day. The reaction to the updated supply and demand could have a direct influence on soybean oil. The soy complex is being led by soyoil as world edible oil stocks tighten.