Soybean prices are up while corn, cotton, and wheat prices are down for the week. The March U.S. Dollar Index traded before the close at 78.30, down 1.16 for the week. The Dow Jones Industrial Average before the close was up 32 points for the week at 12,982. Crude Oil traded before the close at 109.21 a barrel, up 4.85 a barrel for the week. USDA at its annual Agricultural Outlook Forum released what should be considered working numbers for the 2012/13 marketing year. These are really just guesses and are debatable by some whether they should have much market influence. Continue reading →

Corn, soybean and wheat prices are up while cotton prices are mixed for the week. The March U.S. Dollar Index traded before the close at 79.51, up .28 for the week. The Dow Jones Industrial Average before the close was up 141 points for the week at 12,942. Crude Oil traded before the close at 102.98 a barrel, up 4.31 a barrel for the week. Prices are up this week despite strength of the Dollar which is buoyed by events in Europe. Continue reading →

Corn

In today’s report, ending stocks were lowered 45 million bushels to 801 million bushels and a 6.3% stock to use ratio. The trade was expecting stocks of 797 million bushels. Adjustments were a 5 million bushel increase in imports and a 50 million bushel increase in exports with reduced supplies in Argentina and recent increases in both sales and shipments. The season average price is projected to range from $5.80 to $6.60 a bushel, narrowed 10 cents on both ends. Global corn stocks decreased 109.8 million bushels from last month to 4.935 billion bushels on mainly lower production in Argentina and Paraguay. The global stocks to use ratio is projected to be 14.5%, the tightest since 1973/74. Continue reading →