-Argentine port workers on strike again
-India confirms record wheat/soybean crop ideas
-Good corn belt rains remain in forecast
-No USDA sales announcements
ï‚· Argentine port workers will begin another 48-hour strike at midnight tonight as they demand being classified as essential workers in order to get COVID-19 vaccinations.
 Brazilian ag exporter association sees May soybean exports from the county at 14.9 MMT, reduced from previous ideas of 16.2 MMT, which would still be a record for the month in beating last year’s 14.1 MMT, but down from March’s all-time monthly record of 17.4 MMT. Brazilian corn exports at this time of the year are minimal with only 22k tonnes expected to be shipped during the month.
 India confirmed expectations for another record wheat crop, tweaking this year’s estimate to 108.8 MMT from 109.2 MMT
previously, but still slightly above last year’s current record 107.9 MMT. While they slightly lowered their estimate of this year’s
soybean crop to 13.4 MMT from 13.7 MMT previously, it remains sharply above USDA’s 11.2 MMT ideas and would easily be a
new record in surpassing 2012/13’s 12.2 MMT.
ï‚· Tunisia tendered for 92k tonnes of soft milling wheat for June-July shipment.
 Chinese financial regulators are reportedly clamping down on commodities futures trading to reduce the amount of volatility and speculative activity in the markets. Regulators have asked banks to stop selling commodity-based products to retail traders, as well requested their own managed commodity books to be unwound, exiting the market. Banks will be required to provide a monthly update on the “clean up progress†of unwinding all commodity positions.
ï‚· There were no USDA sales announcements this morning.
Weather
The Mato Grosso forecast remains mostly dry, while decent rains continue to be forecast for Parana and MGDS, although decreased from yesterday’s ideas.
Precip over the last 24 hours included .25-1†amounts with 25% corn belt coverage (mostly IL, eastern IA, NE MO and central WI), while the Plains saw .25-1†rains with 15% coverage (mostly E TX and SE OK). Excellent rains remain in the U.S. forecast for the next two weeks as 2+†are expected in all major corn belt states. Decent rains are also forecast across the Northern Plains, which will be quite welcome if accurate.