Quiet markets this morning as we end the week. On the week we are down 7 cents in corn and 7 cents in soybeans. Wheat has been the big loser this week down 16 after yesterdays close. Funds have added a massive 35,000 contracts to their short corn position in the past two days.
The average trade estimate for US corn ending stocks n today/s WASDE report is 1.736 billion bushels and world corn ending stocks at 309.06 MMT. The average trade estimate for US soybean ending stocks is 902 million bushels and world soybean ending stocks are estimated at 106.33 MMT. Today’s report is expected to be a quiet report with few notable surprises.
Stagnant markets like we have seen the last few months are a good time to look at different marketing alternatives to add cash to your bottom line. Producers looking to make cash sales before heading to the fields this spring should give us a call to see how you can get $3.50 for corn delivered in the Last half of March-First half of April with a potential sale for December 2019 at $4.00.
Have a Safe Day!