- On Thursday, commodity funds in Chicago were net buyers of 15,000 corn contracts and 5,000 soybean contracts and net sellers of 6,000 wheat contracts.
- In their March report, Conab analysts raised their forecast for the soybean production in 2020/21 from 133.8 million tons to 135.1 million tons in Brazil. According to Secex estimates, 2.89 million tons of soybeans were exported from Brazil in February, compared to 4.83 million tons in February 2020. For 2020/21, soybean exports are projected at 86.1 million tons and domestic consumption is expected to reach 45-49 million tons.
- According to data from the Buenos Aires Grain Exchange, there was no significant rainfall in Argentina during the week of March 4-10. Analysts have lowered their forecast for the soybean production by 2 million tons to 44 million tons. The deficit of moisture is observed on 47% of the areas, which is an increase of 15% compared to the previous week. Only 6% of the crops are in good and excellent condition compared to 10% a week earlier and 35% a year earlier. 31% of the corn crops are in poor condition (20% and 14%). As of March 10, 2021, 28% of the corn crops were in poor condition (16% and 13%), and there was a moisture deficit on 41% of the crops.
- In the first 9 months of the season, China bought 2.9 million tons of wheat from the United States, including 947,800 tons of white grain, which is the highest level for the last 27 years. The growth is due to the complex relationship between China and Australia, which in previous years has been a major supplier of wheat to the Asian country.
- According to data from Oil World, in February the main exporters of soymeal in the world exported a total of 4.49 million tons compared to 5.15 million tons in January. Argentina exported 2 million tons (-0.55), the United States- 1.23 million tons (-0.1), Paraguay- 0.1 million tons (-0.03), Brazil- 1.05 million tons (1.02), Ukraine- 0.05 million tons (0.03) . During the period of October - February, exports from these countries reached a total of 22.66 million tons (23.71 million tons a year earlier).