Weekly Market Recap March 2, 2018
Friday, March 2, 2018, 3:03 PM
Submitted by: Landus Cooperative
By now, I am sure that most of you have heard the news out of Chicago. The grain markets crashed hard today, with all major markets locked limit lower at the end of the day, going into the weekend. With no trade until Sunday night, most
cash grain buyers are taking “protection” until they can get a hedge off. Most of the news focused on an unexpected front moving through much of Argentina and dumping over an inch of rain and forecasts turning to even more rain over the weekend. This on top
of the announcement out of China and other parts of Asia curtailing imports of soybeans from the U.S. Citing an edict forbidding a new GMO event, and mentioning that their improved testing methods are finding that strain in all shipments over the past 30 days,
most observers believe this is just another cog in the escalating trade war.
OK, NONE of that actually happened today. And let’s hope it doesn’t anytime soon. I am using this to illustrate how quickly things can change on the world scene and how much is at stake with this recent run up in grain prices. Soybeans set new highs this week, wheat continues its uptrend and corn has been following along. To this point, there is still not enough data to suggest any major revisions to the large USDA ending stocks estimates for corn and beans. We continue to look at this recent run-up as a selling opportunity and encourage you to either make sales or put in some realistic offers. Now is not the time to rely on a “HOPE” marketing plan. Put some thought into the price you need and let us help you get there.
Also, we are pleased to announce a new offering to our Grain Marketing Alternatives. We will be working with INTL FC Stone on a pooled grain contract for New Crop corn and soybeans. This is called Merchant’s Plus and we will be offering it until March 29th. Please contact your local Grain Marketing Advisor for more details.