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This market commentary is for informational purposes only. The views and opinions offered in the report are solely those of Bunge Limited and its subsidiaries ("Bunge"). Bunge is not a futures broker and this is not an offer to buy or sell any commodity or futures contract. The information contained in this commentary has been obtained from sources believed to be reliable but is not necessarily all-inclusive and is not guaranteed as to its accuracy. Persons acting on any information contained in this commentary are responsible for their own actions.
Good evening, March beans finished up 5 ½ cents, March corn up 2 cents, and March wheat up 2 ¼ cents. Trade talks concluded with the Chinese on a positive note. A statement from the US trade rep office said that the groups discussed “ways to achieve fairness, reciprocity and balance in trade relations.” There is still some distance between the groups on the structural change in China that the US negotiating team is demanding. The Asian stock market responded positively to the news and the US market did as well. That said markets are still craving details or specific changes. Hot weather has reduced estimates for the South American soybean crop to below 117 MMT. AgRural, a Brazilian crop forecaster, released an estimate of 116.9 metric tons. But, the market has already been pricing in the Brazil (and Argy) weather issues on the markets 40 cent run off its December lows. FC Stone released an estimate of 116.3 five days ago.