Good Morning!

Grain markets are mixed and fresh fundamental news in scarce. KC wheat is finding mild support as the weather outlook turns drier once this weekend’s rain event has pushed through the region. Ag futures on the Dalian Exchange were moderately weaker for corn, beans & meal while veg oils were moderately higher. Crude oil is rallying for the 2nd consecutive day after closing at a 3.5 year high on Wednesday.

According to an interview last night on cable news, the United States hopes to reach a revamped deal with Mexico and Canada in regards to the North America Free Trade Agreement within the next three weeks. Meetings between the three countries are scheduled to resume today and again on Friday.

The weather forecast shows cool temperatures will persist across the Midwest for the next few days before giving way to warmer temps during the last week of April. Yesterday’s weather event brought rain /snow across South Dakota, Iowa, Minnesota and Wisconsin. Accumulation of 12 to 13 inches of snow has been reported in areas of northern Iowa. Rains slated for Kansas, Colorado and Nebraska this weekend will be limited as weather models have pushed the system south into central Oklahoma and northern Texas. The extended forecast has also trended drier for the HRW next week and into the first part of May.

The Wheat Quality Council HRW crop tour will begin April 30th and run through May 3rd.

Weekly jobless claims dropped 1k to 232k new claims for the week ending April 14th; expectations were 225K.

Enjoy the day and be safe!