March 2, 2015
Producer Marketing Manager
Check out our new Market Base Builder contract as a way to get some New Crop bushels sold in a seasonally favorable time period. Signup deadline is March 13th. Ask your nearest location or Grain Marketing Specialist for details.
CORN: As of 7:45 – Down 1
Corn closed last week on a firmer note as we scratched and clawed back to where we started from on Monday. Getting some support from the bean complex as the Brazilian trucker strike was all the rage late in the week. Crop Insurance spring price levels were finalized on Friday and the Feb average is at $4.148. The Dec futures price is trading just above the crop insurance base price at 4.16ish.
SOYBEANS: As of 7:45 – Up 2
Crop Insurance base price for 2015 Soybeans is at $9.73. The market was quietly firmer overnight as the trucker strike in Brazil looks to be “in play” to start the week. Truckers are protesting a 20 cent hike in diesel taxes with road blocks, as well as parking trucks along the side of highway BR 163 to disrupt the grain flow. The November futures is hovering around $10.00, the highest it has been since the Jan 12th Crop Report release.
WHEAT: As of 7:45 – MPLS Up 2, KC Up 5
The wheat exchanges are higher overnight as we continue to see some follow thru buying after putting in contract lows on the KC May contract last Thursday. Cold temps over the next couple of days has winterkill chatter active again.