Current Markets as of 8:15 Wednesday, February 26, 2020
Month High Low Change Last
Mar 20 Corn $3.73 ¼ $3.70 ½ $ + ¼ $3.72 ¾
Dec 20 Corn $3.82 ¾ $3.81 $ – ¼ $3.82
Mar 20 Beans $8.80 ½ $8.75 ½ $ + ½ $8.79 ½
Nov 20 Beans $9.12 ¼ $9.08 ¼ $ + 1 $9.11 ½
Oil $49.5 Lower Gold $1,640 Higher Dow $27,180 Higher Wheat $5.52 Lower
The Des Moines ethanol low rack price is $1.5241. This is $0.2059 lower than the unleaded gas low price of $1.73.
USDA Says 123,000 Tons of Optional Origin Corn Sold to South Korea in 2019/20
Friday will be the last day of the 2020 base crop insurance pricing. The price through Tuesday stands at $9.18 per bushel versus $9.54 a year ago soybeans. The corn price through Tuesday stands at $3.90 versus $4.00 a year ago
Mar Corn Support is $3.71 and resistance is $3.88. Mar Beans Support is $8.69 and resistance is $8.99. Funds were even on corn and bought 30 Million (6,000) contracts of beans Tuesday. Just over 263,000 contracts traded last night.
The grain markets are mixed to weaker with most of today’s news centered around coronavirus and a potential slowdown in the world economy. US equities are choppy this morning with the Dow futures recovering from sharp overnight losses. Equity weakness overnight was attributed to comments from the Center of Disease Control, warning that US citizens need to be prepared for a crisis here in the US
Weather: Rains fell in the southern half of Brazil yesterday, shifting to the northeastern crop areas for the remainder of the week and the weekend, with a wet 6-10 day on tap for the country, back dry again for the 11-15 day time frame. Argentina remains drier throughout, particularly so today for the 11-15 day
The spreading of the coronavirus continues to create market uncertainty.
CDC warned Americans it’s only a matter of time before the coronavirus starts spreading in the U.S.
FND for March futures is on Friday, longs will be reported after the close on Thursday
Have a Great Wednesday! Darren, Brady and David
Gold-Eagle Cooperative Providing Quality Services and Products Innovatively, Profitably, and Professionally.