March 14, 2016
Grain Marketing Specialist
Signup for the 2016 Market Base Builder Program is underway! Check with your nearest Grain Marketing Specialist to find out how to enroll some of your New Crop 2016 bushels of Corn, Soybeans, or Spring Wheat. Pricing starts March 17th……deadline to enroll is March 16th!!!
Corn: 1-3 Higher
Corn market had a pretty good week as we are trying to rebound from our recent lows and are currently using our 50-day MA as a support level. We were up slightly on the overnight session on the May contracts as was Dec futures. USDA last week made no changes to the US balance sheet but did change the world carryout by almost 2 million tons due to changes from last year. Weather is still a player as we are seeing flooding already in areas of Texas north. We will see that plays out.
Soybeans: 1-3 Lower
Really good week in the soybean market as we have saw positive gain the last 7 sessions. But that momentum was not carried into the overnight session as we saw markets lower in all contract months. DTN has harvest in Brazil at 52% which is 2% ahead of last year’s pace. Waiting times growth at ports in Brazil as harvest hits its peak.
Wheat had a decent week as well riding the coat tails of corn and beans. But with cool temps and large world stocks and domestic may lead to a mixed day in wheat. We did see positive moment on the overnight in both Minny and KC, Chicago was slightly lower.