Report won't carry much weight

Even though there is a USDA supply and demand report this week, more attention will be focused on bigger reports later in the month.

USDA tends not to make many adjustments in the March supply and demand report but we will hear about quarterly grain stocks and planting intentions on March 31.

“There has been a lot of talk about the planting intentions especially in the wake of the USDA outlook forum,” said Dale Durchholz of Grain Cycles.

Merrill Crowley from First Choice Commodities in Watseka agrees that this week’s report probably won’t have the excitement like we could see at the end of the month.

“That’s not saying USDA can’t surprise us,” Crowley noted.

Crowley feels the numbers could tighten a bit but should not change much.