Highlights
Crop Progress Report this afternoon and USDA Crop Production and S&D 11 AM Central tomorrow.
The corn to bean ratio is normally 2.4:1, meaning it takes 2.4 bushels of corn to equal the value of one bushel of beans. This morning, the March corn to March soybean ratio is 1.98:1, which means corn is way to expensive or beans are way too cheap.
A backup of more than 2,000 boats and barges on the Mississippi River began moving Sunday as two closures along the waterway reopened near Stack Island, Mississippi and near Memphis, Tennessee.
One of the 12 US railroad unions voted against the tentative national agreement. Only 4 unions have ratified the agreement thus far. If two unions reject the agreement, the deal is dead and back to the negotiating table. With the Mississippi problems, a rail strike would be ugly for basis and the price of grain storage will go through to the moon.