Grain markets headed closer to Plant 2017 with more focus on any little headline to trade off of with no major changes to production or demand at this time.
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 through the middle of March started to turn a bit lower as bullish headlines have thinned out and the United States (U.S.) Federal Reserve raising interest rates, albeit the U.S. dollar pulled back a bit on bearish comments from the Federal Reserve and the likelihood of only two more rate increases in 2017 (the market was…
Grain markets moved through the first full week of March trading off of Brazilian logistics issues, bird flu in the United States (U.S.) Southeast, uncertain American biofuel policy, and sporadic North American weather.
Grain prices to start the month of March saw a healthy rebound as markets bounced from February lows after some policy rumours, logistics issues in South America, and North American acreage estimates for the 2017/18 crop.
Grain prices across Western Canada pulled back this week as the market takes into account new supply and demand forecasts, 2017/18 acreage estimates, and South American weather.
Grain markets continue to trade sideways through February as South American weather and 2017/18 acreage estimates are the focus of most participants.
Grain markets pushed into February on the downtrend after reaching new highs the week before on continued weather concerns out of South America.