Fccoop

MARKET COMMENTARY

weekly TP's

Wednesday, October 29, 2014, 9:10 AM
Submitted by: Jon Setterdahl


10-29-14

WEEKLY GRAIN TALKING POINTS

  • HARVEST IS PLODDING ALONG, AND REMAINS BEHIND NORMAL PACE IN MANY AREAS.  WEATHER LOOKS GOOD THE NEXT 2 WEEKS, SO GOOD PROGRESS SHOULD BE MADE.  ONE OF THESE WEEKS, THE WEATHER FORECAST WON’T LOOK SO GOOD….

 

  • MARKETS HAVE BEEN UP SHARPLY THE PAST WEEK ON ACTIVE FUND BUYING.  FARMER SELLING STARTING TO PICK UP….PROBABLY GOOD TO REWARD THIS RALLY WITH SOME BUSHELS.

 

  • CORN IS GRADUALLY DRYING IN THE FIELD, BUT WITH INCREASE IN HARVEST PACE PROPANE SUPPLY LOGISTICS PROBLEMS ALREADY POPPING UP.

 

  • RAILROAD PERFORMANCE IN THE WEST NOT TOO BAD, AS BOTH FARMERS AND ELEVATORS ALL STORING GRAIN.  DIFFERENT STORY IN THE EAST, WHERE YIELDS ARE TREMENDOUS AND THE CROP IS OVERWHELMING STORAGE CAPACITY.

 

  • NOV10 IS NEXT MONTHLY USDA SUPPLY/DEMAND REPORT.  FURTHER UPWARD YIELD ADJUSTMENTS ARE POSSIBLE.

 

  • PARTS OF BRAZIL HAVE BEEN VERY DRY, BUT SOME RAIN CHANCES ARE IN THE FORECAST.

 

  • MARKET ANTICIPATING U.S. ACREAGE SHIFT OF 4-7% CORN TO BEANS NEXT YEAR GIVEN GRAIN PRICE AND INPUT COST ANALYSIS.  COULD BE A LOT OF BEANS AROUND THE WORLD NEXT FALL IF THAT HAPPENS AND IF S.AMERICA HAS NORMAL WEATHER….THEIR BEAN ACRES ARE UP ALSO.

 

 

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Ames, IA 50010
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