In observance of Presidents' Day there will not be any
opening or closing Market Commentary on Monday, February 18, 2019.

Weekly Market Wrap-Up

Grain Market Commentary

Friday, February 9, 2018

by David Gleason, Associate Merchandiser

Grain markets continue to chop as ending stocks are still bearish. Crude oil is taking off lower as US shale production is profitably running at these values. The dollar is up on the week as equities traded significantly lower this week. The dow has lost 10 percent from recent highs. Uncertainty remains in the market for equities as we are still searching for a near term bottom.

The Andersons Weekly Wrap-Up

December corn opened the week at $3.90 ½ and closed the week at $3.92 ¼. The latest wasde showed tightened ending stocks as the raised exports for the year by 125 million bushels. This news was not enough to help the corn market finish higher on the week. The South American corn crop has come under question here lately, which is making some leery of being short corn right now. The fund short has been covering lately, but was met with plenty of farmer selling because the market has not moved very far relative to the number of contracts that were covered.

The Andersons Weekly Wrap-Up

November beans opened the week at $9.97 and closed the week out at $10.00. The wasde report was bearish beans as there was a 60 million bushel cut to exports for the year. This was widely anticipated, but maybe not expected to all be taken in February. Although this news was bad for beans we still finished relatively unchanged for the week as the Argentina crop remains stressed. There was some rain that hit Argentina here today and should continue into the weekend, but next week we will see more hot and dry conditions return. Until we know more there will be a weather premium added to beans.

The Andersons Weekly Wrap-Up