Grains passed the midway of December doing a bit better on the cash front than where they were a month ago. Some weather issues in Argentina and recent production reports are supporting the oilseeds complex, while most other grains are trading sideways.
Brennan Turner is originally from Foam Lake, SK, where his family started farming the land in the 1920s. After completing his degree in economics from Yale University and then playing some pro hockey, Mr. Turner spent some time working in finance before starting FarmLead.com, a risk-free, transparent online and mobile grain marketplace (app available) that has moved almost 150,000 MT in the last 2.5 years. His weekly column is a summary of his free, daily market note, the FarmLead Breakfast Brief. Visit the FarmLead website (www.farmlead.com) for more information and to sign up for Brennan's newsletter.
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Grain markets got through the first week of December slightly higher as South American weather, new production reports, and export sales lead the bullish charge from harvest lows six weeks ago.
Grains pulled back from some of their highs the week prior as market participants looked to close up some trades and lock in some profits for the month of November. While the highs of the month were posted for most grains right after the E.P.A.’s announcement last week, the oilseeds market did end the month with a positive gain on…
Grain markets heading into the American Thanksgiving weekend had plenty to be grateful for as continued demand, some weather premiums, and updated biofuel mandates supported the complex.
One week after Donald Trump was voted in as the next President of the United States of America, the United States (U.S.) dollar hit a 14-year high.
The second week of November was one for the history books as agricultural markets had to deal not only with the monthly World Agricultural Supply and Demand Estimates (WASDE) report from the United States Department of Agriculture (USDA), but also the United States (U.S.) Election.
Grain prices entered November above where they have been for the past couple of months thanks to some weather premiums and short covering in the futures market.