Very interesting data - while energy and commodities were among the least weighted asset classes in recent months, we see a big change now. Materials, commodities and energy recorded the strongest inflows in April. The commodity trade is getting more attention and could gain

IRS, DOE release #Greet rules for #SAF credits. A one size fits all plan does not work for farmers nor does cover cropping and no till farming. Its a start but more work needs be done as cheaper sugar #ethanol from Brazil provides larger tax credit.Farms.com Ontario
washingtonpost.com/transportation…

#wheat in Pawnee County, KS desperately needs a drink. Thin stands and rolled leaves.

#Canada 🇨🇦 some areas in #Saskatchewan and #Alberta show lack of soil moisture🌤️
#durum
#pulses

Markets are now pricing-in a 42% chance of ZERO interest rate cuts in 2024.

The last time interest rate expectations were at this level was in October 2023.

By comparison, in January the market saw only a 10% chance of no cuts in 2024.

In just a few months markets have gone

The base SAF credit is $1.25/gal of #SAF in a qualified mixture. To qualify for the credit, the SAF must have a minimum reduction of 50% in lifecycle GHG emissions. There is a supplemental credit of 1 cent for each % that the reduction exceeds 50%. Max total credit is $1.75/gal.

Leveling Miniseries – Part 2: Greater than 3” peaks and valleys creates herbicide issues and uniform moisture concerns.

The corn bulls are right about something

Every year (last 20 years), CZ futures traded above their April Month End value at least once.

- The smallest increase was 2c
- The largest increase was 3 dollars
- The average increase was around 70c

New contract lows #soyoil not seen since Jan. 21 as we await the #GREET rules later today all weighing on #soybean & #vegtable oil complex including #canola . EIA reports Feb #soyoil usage at lowest since Dec '22 & Argentine Oilseed Maritime workers on day 2 strike. Farms.com Ontario QT Info Systems

If you're looking for dry time/planting windows, I don't have a lot of good news ahead. The first week of May might not be AS wet as it's been, but not seeing much extended dry time.

Overall, the pattern for the #CornBelt remains active the first half of May.

An area that

Huge oilshare unwind the past few days as Argy strikes support meal/weigh on bean oil, plus market jitters ahead of today's announcement has SBO down hard

Fear is the Treasury Dept will head down a LCFS-style path that slashes subsidies for renewable fuels made with SBO

U.S. testing ground #beef in states with bird flu outbreaks in dairy #cows but assures the meat is safe. #Milk , more testing is needed to analyze whether 'any viral particles' are present. This latest headline news will weigh on the cattle complex.Farms.com Ontario reuters.com/business/healt…

MORGAN STANLEY: '.. Following $META, $MSFT & $GOOGL reports last week, [our] 2024 Cloud Capex Tracker now points to +44%y/y growth in 2024 (vs +26%y/y prior) adding >$50B of spend .. the strongest Cloud Capex 'Supercycle' since 2018.'

#CapexArmsRace

Leveling Miniseries – Part 1: Goal – Less than 3” peaks and valleys after it over winters

Cocoa Biggest Loss in 65 Years 🚨

Chocolate lovers rejoice! Cocoa suffers biggest daily loss in 65 years.

Concerns about solar panel installations disrupting #farming are echoed across the U.S. #Midwest . Risks to soil quality and future #crop potential loom large. potentially harming food production, Is short-term gain worth long-term ag risks? Farms.com Ontario Reuters
reuters.com/world/us/solar…

U.S. #soybean exports to #China face increasing competition from #Argentina in 2024, adding pressure on declining U.S. market share. #Brazil 's dominance and rising Chinese demand contributing. With Argentina's bumper supply, potentially impacting U.S. exports. Farms.com Ontario Dept. of Agriculture

** US GRAIN WEATHER ALERT -- EXPECT SIGNIFICANT PLANTING DELAYS THRU MAY `18**

This is a really wet pattern and the data looks WETTER than last Friday?

SYSTEM 1 - A a weak system that will impact the ND SD MN WI IA Tuesday night into Wednesday

SYSTEM #2 - this

Russia's southern #wheat to see good rains over the next weeks

Rainfall was extremely limited in the last month, close to 0% of normal in places

Russian 12.5 wheat values moved closer to $220 pmt, up arnd $10 on month

Stocks are ample but could that quickly change?

Beginning May 1st, the CME will lower the daily limit for
#corn , #soybeans , & #wheat .
#priceaction #CME