FC Morning Market Commentary for March 13, 2014

Good morning!

The markets were steady to higher last night and the weekly export sales report that was released at 7:30am did very little to change that.  Corn sales and bean sales were both near the bottom range of guesses - -so no major surprises there.  The rumors this week (and the reason for the sharp decline in soybean prices) have center around sales cancellations.  If those rumors are true – they will be reflected in next week’s report.

The wheat market continues to find strength thanks to fund buying and continuing problems in Ukraine.  This also help keep the corn market propped up.  Crimea will vote this Sunday on whether or not to leave the Ukraine for Russia, meanwhile Ukraine’s parliament voted to create a 60,000 member National Guard to help bolster the country’s defenses. 

Outside markets are higher with Crude Oil higher at this time (UP 36 @ 98.36) along with a lower US Dollar (139.41 vs. Euro) and the US stock market is higher (UP 30).

Opening Calls

Corn steady to 1c higher

Soybeans 1 to 4 cents higher

Have a great day!

 Dustin Weiner

@fccoopgrain

FC Morning Grain Market Commentary for 3/12/2014

AM Comments 3/12/2014

Wednesday, March 12, 2014, 8:29 am
Submitted by: Joel Pudenz

Good Morning!

The markets are under some pressure this morning with nearby soybeans down 39 cents. Rumor is China has cancelled some soybean cargos from Brazil, changed some US Gulf vessels last night, and are seeking to exit other purchases. Additional pressure from fund liquidation pushed the price below last week’s low.

Corn was also lower this morning by 4 cents, but the trade is still uneasy about the Ukraine situation. The Ukrainian parliament has voted to keep the country together even if the people of Crimea vote to leave Ukraine. The uncertainty has the market a little worried about what this means for exports.

Opening calls:

Corn down 4 to 5 cents

Beans down 30 to 40 cents

http://www.fccoop.com/markets/commentary_detail.cfm?CommentaryID=2050

FC Mid Day Grain Market Commentary for 3/11/2014

Midday Comments 03/11/14

Tuesday, March 11, 2014, 12:49 pm
Submitted by: Dustin Weiner

Good afternoon!

 

Feels like an old-fashioned “Turnaround Tuesday” today as the markets recover from yesterday’s losses.  Corn is rallying nicely after the European Union threatened sanctions against Russia in protest of its advancement into the Crimean peninsula of Ukraine.  This has the wheat market firmer which of course spills into corn – FYI Russia is on track to be the 5^th largest exporter of wheat this year (and Ukraine is the 6^th largest) so it’s a big deal.  Safe to say grain traders are watching this situation closely and for the time being the cure to the uneasy, nervous feelings this situation brings is to buy buy buy. 

 

Currently:

·         Corn is 3 to 5 cents higher

·         Soybeans are steady (old crop) and up 10 to 15 cents on new crop. 

o   This price action could be reflective of old crop sales cancellations?  Even rumors about that would cause people to exit the old/new bean spread and explain what we see today

 

http://www.fccoop.com/markets/commentary_detail.cfm?CommentaryID=2049