Fccoop

MARKET COMMENTARY

weekly grain TP's

Wednesday, March 11, 2015, 12:03 PM
Submitted by: Jon Setterdahl


  • MARCH USDA S/D REPORT OUT OF THE WAY WITHOUT MUCH FEATURE.  SOYBEAN NUMBERS ALL UNCHANGED, CARRYOUT REMAINS AT 385MLN.  CORN CARRYOUT DOWN 50MLN TO 1.777BLN.  EXPORTS RAISED 50MLN, FEED RAISED 50MLN, ETHANOL DEMAND LOWERED 50MLN.  ALL IN ALL, NOT MUCH NEW, CORN PRICES REMAIN RANGEBOUND, SOYBEANS PRICES MOVED TO LOWER RANGE.

 

  • OF NOTE IN THE USDA VERBAGE EXPLAINING THEIR NUMBERS WAS A NEW ASSUMPTION OF CORN:ETHANOL YIELD NOW BEING USED.  THE STANDARD FOR YEARS HAD BEEN 2.7….THIS HAS NOW BEEN MOVED TO 2.8; IMPLYING THAT PLANTS ARE GETTING MORE ETHANOL PER BUSHEL OF CORN.  

 

  • REAL IMPORTANT REPORT ON MARCH31….QUARTERLY STOCKS AND ACREAGE INTENTIONS.

 

  • LOVE THE WEATHER CHANGE THIS WEEK…..SPRING CAN’T GET HERE FAST ENOUGH!

 

  • LOGISTICS LARGELY REMAIN FLUID….TOO MUCH SO IN SOME CASES.  SEVERAL LOCAL END USERS BORDERLINE FULL. 

 

  • OVERALL PRODUCER SELLING LIGHT, ALTHOUGH THERE IS A LOT OF CORN FOR SALE 10-15 CENTS ABOVE THE MARKET.

 

  • FARM PROGRAM SIGN-UP WAS EXTENDED FROM LATE FEB TO LATE MARCH.  STILL A LOT OF DECISIONS YET TO BE MADE.

 

 

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Ames, IA 50010
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