Fccoop

MARKET COMMENTARY

weekly grain TP's

Wednesday, April 1, 2015, 11:04 AM
Submitted by: Jon Setterdahl


  • YESTERDAY’S USDA STOCKS/ACREAGE REPORT IS OUT OF THE WAY.  BEARISH CORN WITH BOTH INTENDED ACRES AND STOCKS LARGER THAN EXPECTED.  WEATHER WILL OBVIOUSLY HAVE A BIG SAY IN WHERE FINAL ACREAGE ENDS UP.  OHIO VALLEY REMAINS WET AND NORTHERN PLAINS REMAINS DRY….NOT THE IDEAL START.  THE STOCKS NUMBER IMPLIES THAT CARRYOUT THIS YEAR COULD BE IN THE 1.9-2.0BLN AREA, UNLESS ADDITIONAL DEMAND SHOWS UP.  SOYBEAN NUMBERS WERE PRETTY CLOSE TO EXPECTATIONS.

 

  • THE MARKET WAS REALLY LEANING INTO A BULLISH CORN REPORT AND DIDN’T GET IT.  WEAK LONGS BAILED OUT AND A BIG DOWN DAY WAS THE RESULT. 

 

  • IF THE MARKET HAD BEEN HIGHER, THERE WAS “A LOT” OF CORN READY TO BE SOLD, VIRTUALLY EVERYWHERE.

 

  • NEARBY CASH GRAIN PIPELINE REMAINS VERY ADEQUATE, WITH SOME LOCAL END USERS THROTTLING BACK HOURS TO MANAGE THRU THAT.

 

  • FIELDWORK IS VERY ACTIVE IN PARTS OF THE STATE TODAY AHEAD OF RAIN FORECAST TONIGHT.  WOULDN’T BE SHOCKED IF THERE WERE ISOLATED PLANTERS ROLLING TODAY.

 

 

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Ames, IA 50010
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