The prices of the CBoT wheat futures can stabilize somewhat this morning after having been under pressure for two days in a row. A trend reversal is not expected, however, since the wheat harvest in 2020 promises to be good in the USA.
Traders in Singapore see more scope for falling prices. So far, field stocks across the northern hemisphere have been well rated. At the end of April, however, you probably know more. In Australia, sowing of winter cereals is now also starting.
The USDA rated US winter wheat field stocks better than market participants on Monday. Tonight at 6:00 p.m. German time, the agency in Washington will publish its April WASDE report, which is already eagerly awaited.
Analysts are primarily interested in the next corn campaign in the United States, which started last year with difficult sowing conditions and is currently dealing with low prices. If the USDA views conditions in the US Corn Belt fields as unfavorable, that would be a bullish signal for the CBoT grain futures.
The panic about the Corona virus causes extreme unrest among ethanol manufacturers and is of great importance for the US corn market.Many factories have already stopped producing. 
Source
Hansa Terminhandel GmbH
