Prices 19/3/18

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The GFS model is predicting some useful falls across much of Kansas on Monday. The forecast of rain across the HRW belt and technical selling saw HRW futures at Chicago sharply lower by the close. The rain in Kansas is expected across the driest parts of the state too. Unfortunately for Oklahoma and Texas the falls will be limited and the rest of the week is expected to be dry across the HRW states.

The Dakotas and parts of SE Saskatchewan are also expected to see some better falls this week with showers initially crossing the spring wheat belt. Later in the week and over the weekend heavier rainfall is predicted across much of the durum belt.

Oilseeds found support from decreasing yields in S.America. Soybean futures in the US managed to close higher after a media release from the Rosario exchange downgraded the Argentine crop 6.5mt to just 40mt, you have to go back to 2008 to find a smaller crop.
The higher close in soybeans saw increases in ICE canola futures and slightly higher closes for Paris rapeseed.

Pulse prices in India were higher with desi and kabuli peas increasing in all mandi, mung beans were also firmer across the board. Recently prices had fallen and buyers are now showing interest, bottom feeding, it may take a week to see if prices are actually on the increase or if the demand is simply being driven by bargain hunting.

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