You have never had the opportunity to buy soybeans and sell corn when the corn price was half of the beans price. We are pretty close: 2.02 bushels of corn = 1 bushel of beans. Before the acreage report on Thursday, the ratio was 2.2 to 1, the lowest since 2009. Normal ratio is 2.4 to 1. Opportunity is knocking... Ramadan, a holy month for Muslims, began Saturday night. Worshipers abstain from eating and drinking during the daylight hours. It is thought by some to be major negative for the commodity markets, but history does not reflect that. They do not stop eating; they eat after sundown and before sunup. Weather for the next 10-15 days looks good for Europe’s wheat crop, where it has been dry. German food retail grocers increased food prices 20-50% today.
Webinar on April 5: Will Black Sea War Lead to Disaster in Global Grain Market? where Andrey Sizov will discuss implications for global wheat & corn markets. To participate you need to donate to UN WFP helping refugees with food.