Fccoop

MARKET COMMENTARY

PM Comments 1/21/15

Wednesday, January 21, 2015, 3:01 PM
Submitted by: Eric Kist


It was a fairly quiet day in the markets during a period of limited fundamental news.  Soybeans traded a touch firmer in the front end of the market and slightly weaker in deferred months, while corn ended the day down a couple cents across the board. 

After cancelling nearly 17 million bushels of soybean purchases the past two days, the USDA announced the sale of 6.5 MBu to China for the current season, which may have helped prop up the bean trade for today.  Going forward, however, consistent sales announcements are not expected, as a large South America bean crop is looming, and will undoubtedly look attractive to importing nations. 

As for corn, fundamental factors remain neutral to negative for the short term.  Reports on feed usage have been quiet since the USDA lowered its forecast by 100 Mbu earlier in the month, and ethanol stocks continue to increase to a level where production may begin to back off due to a lack of available storage space, along with tightening margins. 

 

@fccoopgrain

 

 

« Back

© 2018 Landus Cooperative, All rights reserved.
Landus Cooperative
2321 North Loop Dr., STE 220
Ames, IA 50010
515-817-2100
Departments
Find Landus Cooperative on
facebook icon twitter icon youtube icon blog icon