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Market Commentary

EOD Ag Market Recap 3/20 for Mar 20, 2019
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

May corn finished up ¼ of a cent, May beans up 2 cents, and May wheat up 8 1/4 cents. Dovish comments by the Fed were the biggest news around the trade today. The weaker dollar helped wheat find some more support that created some buying that spilled over into corn and beans. Headlines about a trade deal coming along nicely according to President Trump didn’t bring out buyers. The news is old and the market is tired of it.  Today was the 7thconsecutive day with no daily export sale announced and the bearish impact seemed to be limited due to the rally in wheat. According to Reuters the US producer has found some company in the Argentine farmer who is not marketing what is expected to be a 55MMT soybean crop because the Chicago board is too low. Managed money shorts, no export announcements, and delays regarding the trade deal are weighing on prices and farmers continue holding out for good (read bullish) news.

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