Global: Corn sees firm finish, wheat mostly up

Soybeans were mixed, with nearby contracts down and deferred months up on bear spreading. Brazil’s harvest is past 60% complete and their basis is moving lower, adding to their export advantage. The USDA’s next round of supply, demand, and production numbers is out April 11th, along with CONAB’s updated outlook for Brazil. Domestic crush demand is solid, canceling out some of that bearish export impact from Brazil. Conditions in Argentina are mostly favorable, with production expected be roughly double 2023. Soybean meal was higher and bean oil was lower on the adjustment of product spreads. China’s General Administration of Customs says February soybean imports were 5.12 million tons, down 18.5% on the year.Corn was modestly higher on short covering and technical buying. Brazil’s second corn crop is nearly fully planted with generally favorable weather, aside from a few dry spots in the south. Stateside, soil moisture conditions are generally better than a year ago, but parts of ...