But this week the headlines started to increase as it was more than just the war in Ukraine that gave the market direction.
This has helped those markets consistently trade to new contract highs as they attempt to try to buy more acres.
Wintery weather continues to dominate the northern Plains while cold, wet conditions plague the Corn Belt.
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The numbers from the April report were in line with expectations and did nothing for the grains as it brought nothing new to the table.
The 25 million bushel decrease in demand followed through to show up as an increase in ending stocks, now estimated at 678 million bushels, which was 25 million bushels above expectations.
The report showed no changes to the 2020 balance sheet, but some reallocations were made in 2021. For 2021 USDA reduced feed demand 25 million bushels but increased ethanol demand 25 million bushels.
On the world stage, corn stocks were estimated at 305.5 million metric tons, 5.4 million metric tons above expectations and 4.5 million metric tons above the previous month.
World ending stocks were estimated at 89.6 million metric tons, 400,000 metric tons lower than last month but 1.4 million metric tons more than the trade expected.
At this point, with the numbers that have been released, new crop corn stocks could be below 1 billion bushels, which is pipeline supplies.
With over 80% of the soybeans in Brazil harvested, CONAB took the easy road and dropped production estimates 400,000 metric tons to 122.4 million metric tons, thinking that it will be easier to just make any adjustments once the crop is in the bin.
Above average precip is expected to bless the northern Plains and Corn Belt through the third week of April followed by a week of much below normal temps.
Putin is quoted as saying that the peace talks are dead and that the only way the war ends is with Russia in control.
Russia and Ukraine are the largest producers of sunflowers in the world, producing 90% of the crop and supplying the world with 50% of its sunflower oil.
allowing it to be sold between June 1 and Sept.
As of April 10, 2% of the nation’s corn was planted, unchanged from the previous week and slightly behind the average pace to 3%.
Although the crop improved slightly, the rating is still the second lowest for this time in 20 years.
Supplies remains tight and will likely get tighter as beef cow slaughter for the first three months of 2022 is running 16% above last year, which is also the highest pace since 1986.