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Morning Market Insight

Morning Market Insight

February 20, 2017
Matt Erickson
Grain Marketing Specialist

No markets today in observance of the Presidents day Holiday, markets will re-open this evening@7PM

Export inspections will be released tomorrow

Corn ended up finishing down 6 for the week as we retreated from the high of $3.80H17 set on Thursday. Fund buying and selling depending on the day looks to be main driver. A negative last week was seen on the export side as the PNW continues to struggle with shipments. Below is a look at the day chart for March 17 corn.

Soybeans pulled back 26 cents last week as we couldn’t quite test the highs set back in mid-January. Export inspections continue to be okay to good and the crush reported last week for the month of January was better than expectations. Below is a look at the November 17(NC) day chart with the 50 day moving average.

What a week for spring and winter wheat as we pulled sharply off the highs. Nearby Minneapolis futures closed down 26 on the week while Kansas City closed down 4 cents. Weather conditions look good in the 6-10 day forecast for winter wheat areas in the Southern U.S. Egypt tendered for March wheat late last week and did not buy any from the U.S.

The information contained above was taken from sources which Wheat Growers believe to be reliable, but is not guaranteed by Wheat Growers as to accuracy or completeness and is made available for information purposes only. There is a risk of loss when trading commodity futures and options.