Fccoop

MARKET COMMENTARY

weekly grain TP's

Wednesday, February 25, 2015, 11:02 AM
Submitted by: Jon Setterdahl


  • WELL THE CORN CHART GOT THE RANGE BREAKOUT…UNFORTUNATELY TO THE DOWNSIDE.  JUST A GENERAL LACK OF BULLISH INPUTS, COMBINED WITH WHEAT NEAR CONTRACT LOWS.  WORLD FEEDGRAIN SUPPLIES ARE ADEQUATE. 

 

  • 2 WEEK FORECAST REMAINS IN A COOL/DRY TREND.  IF THAT PERSISTS INTO MID MARCH IT MAY PUT SOME LEGS UNDER THE CORN MARKET DUE TO PLANTING CONCERNS.

 

  • SOYBEAN MARKET VERY ERRATIC.  TRUCKERS STRIKE IN BRAZIL RALLIED BEANS TO SHORT-TERM HIGHS, STRONG-ARMED BRAZILIAN GOV’T RESPONSE PROBABLY MITIGATES THAT SITUATION SOON. 

 

  • WEEKLY ETHANOL NUMBERS SHOWING CORN GRIND SLOWING A BIT, WHILE ETHANOL STOCKS CONTINUE TO BUILD….CURRENTLY AT 2-YEAR HIGHS.

 

  • EPA SUPPOSEDLY TO ANNOUNCE ’14, ’15, AND ’16 ETHANOL MANDATE LEVELS SOON.  NOT SURE IF IT HELPS THAT SECTOR MUCH TO KNOW HOW MUCH THEY WERE SUPPOSED TO MAKE LAST YEAR. 

 

  • CRUDE OIL LOOKS RANGE-BOUND FOR NOW BETWEEN $45-$55/BARREL.

 

  • KEY MARCH INFO DATES WILL BE USDA MONTHLY S/D ON MAR10, AND QUARTERLY STOCKS/ACREAGE REPORT ON MAR31.

 

 

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