February 20, 2017
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.