Station Manager - Lynn Haagenson Leeds Location - Ph. 701-466-2231
Seed House Manager - Dale Elverud Leeds Seed House Location - Ph. 701-466-2070
BTR Farmers Coop will not accept grains, oilseeds or wheat containing transgenic events not approved for U.S. export markets; such markets include Canada, China, South Korea, the European Union, Japan and Mexico.
Closing Market Comments
February 26, 2015
Corn: Values tugged higher with advancing soy. Weekly export sales of 715,000 tons vs 841,000 last year. US needs to sell 380 million bushels of corn the remainder of the year to reach USDA export forecast vs 500 million a year ago. Corn market will be torn between heavy old crop supplies and the clear threat of declining 15-16 planting and stocks. Fall corn supplies above 15 billion bushels again with any type of a 162+ yeild. Soybeans: Values surging higher in a spasm of towel throwing and paw chewing. Price action forcing many bearish traders to cover short positions with many now conceding that we may continue to traverse the same 9.50 - 10.50 range in place since September. Trade focusing on the ongoing Brazilian truck strike as a catalyst for today's action. Most expect the situation to normalize in coming days with limited trade shifting soy demand back to US. Buyers currently seem willing to wait for South American loadings despite reports of a 42 day vessel line up at Paranagua now. Wheat:
A choppy session with weekly export sales of 328,000 vs 365,000 last year. Total US sales down 24% and loading down 27% from a year ago with USDA forecasting annual exports down 24%. US HRW areas to receive beneficial snowcover and moisture. Trade remains focused on the Ag Forum projected likelihood of building US stocks next year with clear possibility of a larger US crop. Whether or not a significantly smaller FSU wheat crop can alter world trade matrix enough to increase US demand is far from clear.