A rough day for commodities as corn finished down -6, soybeans down -23 and wheat down -18. At the 97MM acres of corn in yesterday's crop intention report it would imply a 3B bushel carryout for next year. When you add in what could be reduced ethanol demand that number could balloon as high as 3.5B bushels of carryout. One thing to watch will be the value of DDG's as there could be an upswing in the amount of whole corn being used for feed. Covid-19 continues to get worse throughout the United States as we now have over 200,000 confirmed cases nation wide.
Brett Monahan 4/1/20
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