01-27-2014 07:56 AM - edited 01-27-2014 01:55 PM
At the close:
The March corn futures contract closed 2 1/4 cents higher at $4.31. The March soybean futures contract finished 3 cents higher at $12.87. March wheat futures finished 1 3/4 cents lower at $5.63 per bushel. The March soymeal futures contract closed $5.20per short ton higher at $430.90. The March soyoil futures closed $0.48 lower at $37.06.
In the outside markets, the Brent crude oil is $0.90 per barrel lower, the dollar is higher and the Dow Jones Industrials are 42 points higher.
One analyst has little to say about today's markets: "Not much today. South American weather causing crop improvement and necessary pressure on soybeans. Corn continues to find support as it trades within its range."
The March corn futures contract is trading 1 1/4 cents lower at $4.28. The March soybean futures contract is trading 4 1/2 cents higher at $12.89. March wheat futures are unchanged at $5.65 per bushel. The March soymeal futures contract is trading $5.80per short ton higher at $431.50. The March soyoil futures are trading $0.46 lower at $37.08
In the outside markets, the Brent crude oil is $0.51 per barrel lower, the dollar is higher and the Dow Jones Industrials are 27 points lower.
USDA's Export Inspections announced Monday show corn's are down a bit while soybeans are sharply higher vs. a week ago.
Corn=28.70 million bushels vs. 29.81 million bushels.
Soybeans= 73.83 mill. bu. vs. 56.63 mill.
At the open:
The March corn futures contract is trading 1/4 of a cent lower at $4.29. The March soybean futures contract is trading 3 cents higher at $12.87. March wheat futures are 5 cents higher at $5.70 per bushel. The March soymeal futures contract is trading $2.50 per short ton higher at $428.20. The March soyoil futures are trading $0.19 lower at $37.35.
In the outside markets, the Brent crude oil is $0.54 per barrel lower, the dollar is higher and the Dow Jones Industrials are 37 points higher.
--USDA announces Monday that an unknown bought 183,000 tons of U.S. soybeans for 2014-15.
--USDA announces Monday that an unknown bought 119,888 tons of U.S. corn for 2014-15 delivery.
Early calls: Corn is seen 1-2 cents lower, soybeans 3-5 cents higher, and wheat 2-4 cents higher.
Overnight grain, soybean markets=Trading mostly higher.
Brent Crude Oil=$0.54 per barrel lower.
Wall Street=Seen higher.
World Markets=Asia/Pacific stocks were lower, Europe stocks lower.
More in a minute,
01-27-2014 08:01 AM - edited 01-27-2014 08:16 AM
FutureRoad.net analyst, Tom White, sees more back and forth corn price action this week: "We had a relatively flat week as the daily charts show. We had several “short-term” trend line breaks (e.g. on the 30-minute charts) which gave the markets a bullish bias on several days but the market was unable to complete follow through. It appears as if we are creating a triangle pattern which suggests more back and forth trade in the coming week. We will continue to monitor and watch for any signs of a break out soon," he says.
01-27-2014 09:21 AM
Good morning my friends,
I'm here to share some pictures of my travel to the surroundings of Passo Fundo, northwest of Rio Grande do Sul, Brazil. I went there last week to verify the effects of corn with irrigation. A producer that I talked to told me that he had faced droughts in 10 out of 15 years. But in 2013 this was different. He invested on irrigation and guess what? He did not lose a single dime. Clovis Dickel, the farmer, mostly uses corn for forage and his main source of income is milk. Here are the photos of his planted second corn crop and the forage stored.
01-27-2014 09:42 AM
Here is an image from a farm located in Lagoa Vermelha, which is roughly 60 miles to the east of Passo Fundo, Rio Grande do Sul. This farmer also uses corn for forage, but he plants soybeans, tobacco, and sorghum too. Same story, he is making a lot of profit with milk after several droughts. He just irrigates a quarter of his property because there is not a three-phase energy network and not enough energy for the whole farm.
01-27-2014 11:02 AM
We need to move that guy up here for a year or two and help him redefine "drought"
We have native pastures that haven't been that lush and green for 10 years. His trees are still alive.
Luis what would the average rainfall be for these farms??
01-27-2014 11:29 AM
The average for their region in December is 2.6 inches. This year they had zero precipitation. But you have to notice that those crops are looking as good as they are because of irrigation. There is a lot of rain during the winter in Rio Grande do Sul that can be saved and stored.