AM Comments 03/16/15

Monday, March 16, 2015, 7:03 AM
Submitted by: Dustin Weiner

The markets are all starting off steady to slightly lower this morning - but have rallied off the overnight lows that were set at the open last night.  Crude oil made new contract lows overnight which is not a good sign for price action today.  Generally speaking, this market seems to be in a holding pattern, waiting for the reports at the end of the month to give us new direction.  Really, the only fundamental story out there this morning is the same general thought that pushed us down last week: US grains/oilseeds are uncompetitive into major import destinations in the world thanks to not only price, but (maybe more so) also due to currency valuations.


Something to watch moving forward - the direction of outside money (in or out?). Lately, the funds have picked up their pace of selling and we found out on Friday that the funds are now short wheat, corn and soybeans.  With the charts looking negative you can make the case that adding to those short positions could be the path of least resistance for them here for a while.  It may take a fundamental shift in the S&D to get it to flip…


Have a great day!






« Back

© 2019 Landus Cooperative, All rights reserved.
Landus Cooperative
2321 North Loop Dr., STE 220
Ames, IA 50010
Find Landus Cooperative on
facebook icon twitter icon youtube icon blog icon