Fccoop

MARKET COMMENTARY

weekly grain TP's

Wednesday, December 24, 2014, 8:12 AM
Submitted by: Jon Setterdahl


  • COMBINATION OF BOARD AND BASIS STRENGTH HAS PUSHED CASH CORN TO THE 380-400 LEVELS.  MERRY CHRISTMAS!  STRENGTH IN WHEAT DUE TO RUSSIAN ECONOMY/CURRENCY PROBLEMS HAS HELPED CORN ALONG FOR THE RIDE.

 

  • PRODUCER SELLING MODERATE TO HEAVY THE PAST 10 DAYS.  COMBINED WITH GOOD WEATHER TO HAUL GRAIN, RESULTS ARE MOST LOCAL END USERS ARE FULL.  CASH BASIS HAS A WEAKER TONE.

 

  • RAILROAD PERFORMANCE CONTINUES TO BE VERY GOOD AND ABOVE MARKET EXPECTATIONS, PARTICULARLY IN THE WEST. 

 

  • WEEKLY EXPORT LOADINGS CONTINUE TO BE ROBUST FOR BEANS AND WILL REMAIN SO UNTIL THE CHINA PROGRAM SLOWS…PROBABLY IN FEB OR MARCH.  CORN EXPORT LOADINGS FAIRLY SLOW…MARKET EXPECTING (NEEDING) THAT TO PICK UP THE PACE IN THE NEXT 60 DAYS.

 

  • RABOBANK REPORT THAT NATIONALLY ONLY 50% OF THE INTENDED FERTILIZER MADE IT TO THE GROUND THIS FALL.  LATE HARVEST AND EARLY FREEZE NOT A GOOD COMBINATION.

 

  • DOW BREAKING 18,000 AND CRUDE OIL HOVERING AROUND $55.       COMPARE TO A YEAR AGO….DOW 16,500 AND CRUDE $90.

 

  • CHINA APPROVED USE OF MIR162 (VIPTERA CORN TRAIT).  UNFORTUNATE THIS DIDN’T HAPPEN A YEAR AGO.

 

  • MERRY CHRISTMAS TO EVERYONE!  ENJOY YOUR TIME WITH FAMILY AND BE SAFE IN YOUR TRAVELS.

 

 

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Ames, IA 50010
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