-Brazil suspends import duties on soybeans, corn, SBM, SBO
-Brazil safrinha corn crop ideas moving lower
-Canada buys new crop Ukrainian rapeseed
-USDA reports corn sale to Mexico
-U.S. corn/soybean planting progressing as expected, spring wheat planting quick
ï‚· Brazil suspended import duties on soybeans, corn, soybean meal and soybean oil through the 2021 calendar year, which would effectively put U.S. supplies on equal footing with Argentina as it eliminates the disparity with the barrier-free imports from Mercosur countries.
 Yesterday’s Crop Progress update didn’t hold any surprises with U.S. corn planting 8% complete vs 9% expected and in line with average of 8%, as well. Illinois planting is running strong at 12% complete vs 8% average, while planting across the south
continues in line with average levels, with the exception of AR which remains behind average by 18%. Soybean planting is 3%
complete, in line with expectations, and compares to average of 2%. IL, IN and OH are 5%, 4% and 5% planted, respectively,
vs 1% average. Rains in the Delta have kept soybean planting a bit slow with LA 10% vs 23% average and MS 15% vs 25%
avg, although AR at 12% is in line with average of 14%.
 U.S. winter wheat conditions held steady at 53% good/excellent vs average expectations of 52% and compare to 57% g/e last year. HRW conditions are deemed in line with average in historical terms, SRW slightly better than average and white lower than average. None of the KS crop was reported to be heading yet, while OK is 17% heading vs 26% avg and TX 41% vs 45% avg. KS is 50% jointed vs 52% average, while OK is 86% vs 85% average. Some light damage is possible from this week’s cold snap but not expected to be a major issue.
ï‚· U.S. spring wheat planting continues to run at a quick pace with 19% complete vs 17% expected, 11% last week, 7% last year
and 12% average. ND is 13% planted vs 5% average and SD is 46% vs 26% avg.
ï‚· Brazilian soybean harvest is nearing completion at 88% and is in line with average of 89%. The weather watch for the safrinha corn crop remains heavy with dry conditions continuing in many areas a limited precip opportunities expected in the near term outlook.
 Private estimates of Brazil’s corn crop are moving lower with several ideas this week putting the total crop in the 104-105 MMT range vs previous ideas of 107-109 MMT, while CONAB was last at 108.1 MMT and USDA at 109.0 MMT (102.0 MMT last year).
One private estimate of the safrinha crop fell to 79.5 MMT from 85.0 MMT previously, with CONAB last at 82.8 MMT and 75.1
MMT last year. While Safras & Mercado has not officially revised their ideas, they said the crop is unlikely to reach their 80.7
MMT estimate published in March.
ï‚· Traders have said two shipments of up to 30k tonnes each of new crop Ukrainian rapeseed have been sold for export to Canada for August 2021 shipment in a highly unusual move. Extremely strong Canadian rapeseed exports are expected to push old crop ending stocks to 8-year lows, but the importing of Ukrainian supplies at the time of new crop supplies becoming available is shocking.
ï‚· USDA reported the sale of 114k tonnes of corn to Mexico for 2020/21 delivery.
Weather
Precip activity over the last 24 hours included .10-.40†of roughly 20% of the corn belt, (S. IA, N. IL, N. IN) with similar amounts
and 40% coverage of central/southern plains wheat (mostly KS, scattered NE). The coming 5-day period is expected to bring .50-1.5†amounts and 35% corn belt coverage (favoring MO, S ½ IL, IN, OH), with .25-1†and 25% coverage for winter wheat areas.
Spring wheat rains/coverage look very limited this week. A drier-trending outlook for Brazil’s safrinha corn crop will need to be
watched closely