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MARKET COMMENTARY

Weekly Grain TP's

Wednesday, December 17, 2014, 10:12 AM
Submitted by: Jon Setterdahl


  • ENERGY MARKETS CONTINUE TO BE WEAK WITH CRUDE OIL NOW IN THE MID $50’S.  ARAB NATIONS SAYING THEY WILL CONTINUE TO PUMP EVEN IF PRICE GOES TO $40….MAYBE AN OMEN ON WHERE IT GOES.  ETHANOL PRICES TAKING A BIG TUMBLE THIS WEEK AS WELL.

               

  • RUSSIAN ECONOMY/CURRENCY PROBLEMS HELPING SUPPORT WHEAT PRICES, WHICH IS IN TURN HELPING TO SUPPORT CORN. 

 

  • ACTIVE FARMER SELLING THE PAST WEEK HAS CAUSED CASH BASIS TO WEAKEN IN MOST AREAS.   THAT, ALONG WITH VERY GOOD WEATHER SO FAR IN DECEMBER THAT HAS NOT CAUSED ANY LOGISTICS PROBLEMS ANYWHERE.

 

  • DECEMBER USDA SUPPLY/DEMAND REPORT PRETTY MUCH AS EXPECTED WITH SLIGHT DROPS TO BOTH CORN AND BEAN CARRYOUTS.   JANUARY12 NEXT USDA REPORT…..POTENTIALLY MORE FIREWORKS WITH THIS ONE DUE TO POSSIBLE YIELD CHANGES.  QUARTERLY GRAIN STOCKS ALSO OUT IN THAT SAME REPORT.

 

  • CORN PRICES ON THE UPPER SIDE OF RECENT RANGES.  MIGHT BE HARD PRESSED TO MOVE MUCH HIGHER SHORT-TERM UNLESS ENERGY PRICES REBOUND OR EXPORT SALES SURGE HIGHER.

 

  • RECENT MARKET REPORTS OF CHINA APPROVING THE VIPTERA CORN TRAIT.  THE TRADE IS AWAITING CONFIRMATION OF THIS BEFORE CHANGING ANY POLICIES. 

 

 

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Ames, IA 50010
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