BQC Afternoon Comments Mar 5.2025

Geopolitics: BlackRock looking to lock in a Panama Canal port purchase deal with Hong Kong-based company CK Hutchison Holdings.You’ve hear Secretary of State Rubio state the importance of Panama’s cooperation with the US and of course President Trump’s mirrored remarks as recent as yesterday’s speech to Congress.  
Ag Fundamentals: The negotiations continue.. Trump rolled back auto tariffs, booting the start date until April. This gave the trade hope that additional concessions may take place soon as well. Ethanol production was slightly higher week-over-week as shown below. Ethanol stocks fell slightly and Crude oil stocks increased with lower than expected demand last week. Corn broke the 8-session losing streak as May Corn futures look for support near December lows. The 100-day moving average at 463’2 is now the next hurdle for May corn to jump as some speculators are jumping back into an oversold market. May soybeans looking to establish support at 995’0 or better as the bean market fought back today to close over $10. Acre estimates are now debated more heavily due to a shift in potential profitability between corn and beans. Bringing that decision down to the wire will create higher volatility seeing that decision will need to be made by farmers beginning  to work ground in the coming weeks.