BASIC & RECENT MARKET INFO

Tidbits Flash sale:  Yesterday morning, the USDA announced the sale of 126,000 mts of old crop corn to unknown and 100,000 mts of old crop soybean meal to Italy.   Strait of Hormuz: There is a very slight chance of a long term solution to the Iran War will come from Islamabad, Pakistan, the site of the first face-to-face talks between U.S. and Iranian people which is under way this morning. Vice President JD Vance is leading the U.S. delegation.   Before a long-term deal can

Tidbits Flash Sale:  Yesterday, the USDA reported sales of 136,000 mts of old crop corn to South Korea. Annual U.S. retail inflation  was reported at 2.8% in February, the same pace as in the previous month and matching expectations. Core annual inflation excluding food and energy was 3%, down from 3.1% in the prior month. Both remain well above the Federal Reserve's 2% target. U.S. initial jobless claims  rose to 219,000 on the week ending April 4th, higher than was expected

CBOT 10 Minutes After The April S&D Report May corn -4 Dec Corn -3 May beans +2 Nov Benas +1 July CBOT wheat -10 July KC wheat -9 Sept Spring wheat -5    Above prices were just slightly weaker after the report than before the report.     Biggest news is soybean exports were reduced by 35 million bushels, but soybean crush was increased by the same amount. No changes in South A merican crop sizes.

Tidbits Iran: The two week cease fire between Iran versus Israel and the U.S. is very fragile and most likely will collapse. Iran claims Israel has already broken the agreement. Many countries claim Iran has also broken the agreement. The Strait of Hormuz remained shut to vessels sailing without a permit and shippers said they needed more clarity before resuming transit. Marine Traffic data ⁠showed two Greek-owned and two Chinese-owned bulk carriers passed through the strait