Grain News – Markets are Trading Higher
Currently all markets are trading higher. Reports are coming out that Trump/Xi won’t be meeting until April at the earliest. There is a huge storm system moving across the middle section of the country with high winds in some areas, blizzard conditions to flooding in other areas, making our weather look fantastic. Trade will start focusing on weather. The weather looks to be drier for much of the U.S. next week.
Corn prices are trading higher this morning. Export sales out this morning were disappointing at less than 15 mln bu. There have been some rumors that China may purchase more that 3 million metric tons of U.S. corn. The last time China purchased more than three million tons was in 2011/2012 crop year.
Soybeans are holding up a little today. Export number was on the high side of estimates. Some are talking of a U.S. and China agreement coming in the next three weeks. The markets are slow to react to China news and are waiting to trade when it actually happens.
Wheat is significantly higher today. Wheat is seeing some upside movement mainly on technical maneuvering.
Our Average Price Contract deadline for Soybeans and Corn is Friday, March 15th. Keep working with your grain marketing specialist with putting in offers and getting some new crop bushels sold. Take a look at our specialty contract for some of your bushels. Things may get volatile as we get closer to planting season and offers are a great way to capture a profitable price. We look forward to working with you. Have a fabulous day and stay safe.