Grain Insights

Plains Wheat Stress to Increase the Next Two Weeks

Highlights

• Grains down slightly in the overnight

• Gary Cohn says he will resign as economic advisor to Trump.

 

South America

• Forecast for some rains in central and southern production areas Sat & Sun, but not expected to provide enough precip to impact drought conditions.  

• More rains in Argentina are expected to fall early next week.

• Rains expected in late March should benefit wheat planting which begins in May. Analysts are expecting more wheat area to be planted in Arg than LY.  

• Rio Grande do Sul, Brazil is expected to receive precipitation next Tuesday.

• Showers in central, western and northeastern crop growing regions of Brazil are expected to continue into the weekend.    

 

Gary Cohn Resigns

• Gary Cohn, Trump’s top economic advisor announced his resignation on Tues.

• Gary Cohn strongly opposed steel and aluminum import tariffs.

• S&P 500 and DJIA futures are off sharply following the announcement.

• Many analysts are concerned that the departure of Cohn who strongly opposed tariffs will leave Trump surrounded by advisors who lean toward protectionist policies.   

 

CME lifts Force Majeure

• CME lifted the Force Majeure that it had declared on Feb. 22nd for corn shipping stations along the Illinois river.

 

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