February 13, 2017
Producer Marketing Manager
CORN: As of 7:40 – Down 1
March corn futures reached the $3.75 mark on Friday, the highest that contract has traded since July. The Dec contract is also pushing against some significant resistance at the $4.00 mark (This morning’s high is $3.99 3/4). Do you have your target orders in and working?
SOYBEANS: As of 7:40 – Down 6
The bean market has been very back-and-forth. On Friday we bounced off of the 20 moving average and pushed back above Wednesday and Thursday’s high water mark. This morning we are seeing weakness as the 6-10 looks drier for Argentina.
WHEAT: AS of 7:40 – MPLS Down 4, KC Down 2
The KC Mar contract finished the week with a bang, gaining 24 cents from Thursday's low and Friday's close!!! Much of the momentum was around the warmer temps seen in the southern plains that may entice the HRW crop out of dormancy and opening up the chance for cold weather damage as we move thru the last weeks of winter. The HRS market seems to be a follower of HRW.