Stanford Grain will be closed on Friday, March 30th for Good Friday. (No grain markets that day)
Stanford Grain Business Hours: Monday-Friday 7:30-4:00 CBOT Trading Hours: 7:00PM-7:45AM-Markets Open (Sun-Thurs) 7:45AM-8:30AM-Markets Closed 8:30AM-1:20PM-Markets Open 1:20PM-7:00PM-Markets Closed Daily Limits: Corn 25 cents, Beans 65 cents, & Wheat 30 cents
Wednesday Morning Comments (3/21/18)
Good Morning. Grain prices are fairly quiet once again as the charts show both corn and soybeans taking a pause. With the current weather stories being mostly a known right now and with the major crop report next week, a sideways trade is not surprising. Rain is expected to fall again in Argentina this weekend. Newswire reports suggest that the last season rains (last weekend and this coming one) should help stabilize crops there. A floor on the bean crop of 40 MMT and a small increase in the corn crop to 35 MMT is being discussed. Both of those figures are still well off of where Argentina started this year, but the declines from here look to be minimal due to the better rains. The extended forecast continues to suggest some better rains for the plains. The wheat funds never did fully liquidate their net short position and appear to be building it back slowly again. The funds are still maintaining a large net long position in corn and soybeans, which are likely to be maintained with the North American weather still to come. No update this morning on a China reaction to tariffs. They are making more noise about the U.S. farmers and the amount of subsidies that they get. The FED will conclude their two-day meeting day today and are expected to raise the key interest rate by .25%. The outside markets are mixed with crude up again and equities are slightly lower. Looks like another quiet day for the grains, which is just fine.
Comments from Mid-Co Commodities 7-day precip forecast (Mar 21-Mar 28)
Have a good & safe day!
Most people have the will to win, few have the will to prepare to win. Bobby Knight
E-mail Delivery Sheets: If you would like to receive your grain delivery sheets by e-mail, please let us know. We can do that.
ACH Payments are now available. Call for details or to sign up.