Grain Exchange – 4/2/2020
On this beautiful day in April the sun is shining, and everyone is working hard to prepare for spring planting. 2020 seems like the year with a huge toss up on what to plant due to the drastic changes in the market. While there is no silver bullet, now more than ever is when you should be working with your Landmark Grain Marketing Specialist. The opportunities are going to lie in pre-planning, diverse contract options, and positivity from our Landmark Team.
A little market update:
Soybeans opened down 3 for May 2020. Fall has been holding a little stronger with a lot less volatility than the old crop. Basis on beans at the Gulf and other terminals have been getting tighter trying to ramp up for the Soybean Meal market. As the ethanol market is changing there has been some interest in moving from DDGs to some sort of substitute.
Corn opened up 1 across the board. Corn seems to be over sold and with the intended planting acres on corn being over 96 million acres it is nice to see some green on the board. If you look further out in to 2021 the market is also looking a little more appealing than 2020. There is hope in the future according to the CBOT.
Wheat is down 8-9. We have seen the most drastic change on the board in wheat in the last 2 weeks. I’m not seeing may explanations for the wheat drop besides it is being held down by corn and beans. Which hopefully means it will come back around.
Farmers are the most optimistic group of people. In hope of the markets turning around call your Grain Marketing Specialist to get your offers in before you are preoccupied with spring work.
Make it a great day and stay safe!