March 26, 2019
Futures are mixed in a low volume trade with the traders unwilling to add to their positions ahead of the key reports from the USDA on Friday morning. Beans were down 3, corn off 1 and winter wheat up 2 to 4 cents. With the funds already excessively short the market, prices should be supported on the breaks.
Soybeans are beginning to feel some pressure from S. America as farmer selling in Argentina increased this week. This is not a big surprise with beans originating out of Argentine ports running between 5 to 15 cents below the Board. This will limit US sales to other World importers with the FOB premium for US beans over Argentine ones growing wider over the last four weeks.
Producers are advised to get firm offers in with us before this week’s report and before you head to the field. Last week we were able to fill some $3.90 offers for February and March of 2020! These are great prices and more producers should be taking advantage of December thru May 2020 prices in the $3.75 to $3.95 range. Give us a call today to put in your offers.
We will be at the WPS Farm Show in Oshkosh this week on Tuesday, Wednesday and Thursday. Visit us in booth A3518.
Have a Safe Day!