March 22

Wheat and soybeaans have rebounded off the lows resulting

from covid19 scares  If only corn could rebound!

Russia and Saudi Arabia's squabble over oil production and

price has corn produced ethanol on the ropes.  Ethanol as an

additive to gasoline now costs more than the gas itself.

Doesn't work very well  Pandemic slowed oil demand probably

keeps a ceiling on oil prices for a while. Reducing ethanol 

production also reduces ddgs which supports soymeal.