There is still a lot of talk that China’s inventories of soybean and meal are full and that China continues to look for opportunities to either cancel or delay imports.
–Most of China’s efforts have been focused on Brazilian supplies.
–There was talk over the weekend that China re-sold 2-3 cargoes of Brazilian beans to the U.S. for April-May shipment.
•Weather is not a major market factor at this time.
–There are a couple of areas in the U.S. that need to be monitored.
–The SW plains remain under drought conditions.
–The far northern corn belt and great lakes region have endured a very cold winter and there are concerns that spring planting could be delayed.
