March 7th 2014
Grain Marketing Specialist
This here is a story about a pres named V. Putin
The leader of Russia with nothing better to do
But sit around his house, get high, and watch the tube
Here’s what happened when he decided to cut loose
He sent his army to invade old Crimea
‘Least that’s what the news today tells ya
Caused the market to run high and get away
So I say take the money and run!
As of 8:00am May 4 higher, Dec.’14 steady
Apologies to the Steve Miller Band for butchering that song, but it does help to make my point. Corn prices are jumping to their highest level since Labor Day. May alone has bounced of the $5 futures mark. Exports, yesterday, were reported at 66.2 million bushels, with 60 million of that as 2013 bushels. Total commitments are at 93% of the 1.6 billion bushel US Government forecast. Use this “crisis” rally to sell some old crop bushels and look at the new crop bushels. Take the Money and Run!
As of 8:00am May 18 higher, Nov. ’14 is 9 higher
BANG, ZOOM! Straight to the moon! South American weather has impacted this market and will continue to do so. Exports yesterday were above what was expected, even with the recent China cancelations. Bottom line….we, the US, have no beans to sell.
As of 8:00am Spr. Wheat 9 higher Win. Wheat 9 higher
Wheat is making good gains this morning on the “Russian invasion of Crimea.” Export sales were at 20.4 million bushels. These numbers are still behind the US forecast. Weather in the US is also playing a big part as the winter wheat starts to emerge. The 8-14 day forecast showing above normal precipitation amounts for Texas and Oklahoma.