Fccoop

MARKET COMMENTARY

weekly grain TP's

Wednesday, March 25, 2015, 1:03 PM
Submitted by: Jon Setterdahl


  • CORN MARKET HAS STAGED A NICE RALLY HERE LATELY DUE TO PLANTING CONCERNS….TOO WET IN THE DEEP SOUTH AND OHIO VALLEY,  TOO DRY IN THE NORTHERN PLAINS.  PRICES ARE VERY NEAR HIGHS FROM LATE FEBRUARY.  DEFINITE UPTICK IN FARMER SELLING, BOTH OLD CROP AND NEW CROP.

 

  • USDA ACREAGE/STOCKS REPORT OUT NEXT TUESDAY, MAR31.  WILL BE AN IMPORTANT MEASURING STICK AS WE HEAD INTO SPRING SEASON.

 

  • FAIR AMOUNT OF NH3 WENT ON THE LAST WEEK, MAINLY SOUTH OF HWY30.  STILL A LOT OF WORK TO DO.

 

  • NOT MUCH NEW ON EXPORTS LATELY....RUMOR LAST WEEK THAT BRAZILIAN CORN HAS BEEN BOOKED INTO THE SOUTHEAST US MARKET, MAINLY DUE TO CURRENCY SITUATION.  IF TRUE, THAT’S NOT GOOD.

 

  • CRUDE OIL TRYING TO RECOVER TO THE $50 MARK.  WILL SEE HOW GOOD THE FOOTING IS THERE.

 

  • WITHOUT MAJOR WEATHER OR GEO-POLITICAL EVENTS, 2-3 YEAR COMMODITY PRICE FORECASTS ARE CORN 3.50-4.00 AND SOYBEANS 7.00-9.00.   ISSUE WILL BE WHERE DOES NEXT DEMAND GROWTH COME FROM??  BIOFUELS HAS BEEN PLAYED OUT AND CHINA PROBABLY CANNOT SUSTAIN RECENT GROWTH RATE GOING FORWARD.

 

 

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Ames, IA 50010
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