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Futures and options trading involves risk of loss and is not suitable for everyone.

00:00 Export Inspections
3:03 Canola Market
5:20 Brazilian Soybean Harvest
7:19 USDA Report
8:59 Stock Market
10:50 Flash Sales

🌽 Strong US Corn Shipments, Mixed Results for Other Grains
 US corn shipments surged last week, with USDA reporting 1.8 million metric tons (72 million bushels) shipped for the week ending March 6. This exceeded expectations, rising 35% from the prior week and 56% from the same period last year. Soybean shipments also increased, reaching 844,218 metric tons (31 million bushels), up 21% from the previous week and 7.5% year-over-year. Meanwhile, wheat shipments fell short of expectations at 216,173 metric tons (8 million bushels), marking a 45% decline from the prior week and a 55% drop compared to last year. 

🇨🇦 Canola Market Hit by China’s Tariffs
 Canola prices tumbled after China imposed a 100% tariff on canola oil and meal in retaliation for Canada’s tariffs on Chinese EVs. While Canadian farmers faced significant losses on Monday, prices stabilized somewhat today. Notably, canola seed exports remain unaffected for now. With 95% of canola exports heading to the US, Canadian producers are in a tough spot. 

🇧🇷 Brazil’s Soybean Harvest Progressing, Weather Concerns Persist
 Brazil’s soybean harvest is moving faster than last year, with 61% of the crop harvested as of last Thursday, compared to 55% at the same time in 2023. However, concerns remain over soybean yields in Rio Grande do Sul due to hot and dry conditions. Brazil’s second corn crop planting is nearly complete, with 92% finished—just shy of last year’s 93%. 

📊 USDA Crop Production & WASDE Report Due Today
 The USDA will release its monthly Crop Production and WASDE report at 11 AM CST. While the report is usually uneventful, traders will be watching for any adjustments related to trade policies. No major changes are anticipated for South American crops.

📉 Stock Market Slumps Amid Recession Fears
 The stock market took a hit on Monday due to growing recession concerns. The Dow Jones fell 2.1%, the S&P 500 dropped 2.7%, and the Nasdaq plunged 4%, marking its worst session since September 2022. Tech stocks saw steep losses as investors worried about the economic impact of President Trump’s proposed tariffs, spending cuts, and geopolitical shifts. Adding to concerns, Trump refused to rule out a US recession over the weekend, calling the current economic situation a "transition period." Economic fears also led to a sharp decline in the 10-year Treasury yield, which dropped to 4.2% from its recent 4.8% peak.

🚀 USDA Reports Two Flash Sales

• 126,000 metric tons (5 million bushels) of corn sold to Japan for the 2024/2025 marketing year.
• 195,000 metric tons (7 million bushels) of soybeans sold to unknown destinations for the 2024/2025 marketing year. 🌎📦