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Friday, March 04, 2016

Ag Question: What direction is the markets moving?

Markets have been moving slowly.  By the end of February, farmers are looking at the grain markets scratching their heads, wondering when the market will move in their favor.  Cash grain prices in Central Indiana have not changed much since fall delivery prices.

By the end of Friday, March 4, grains were higher.  Brazil had heavy rains towards the end of the week delaying their harvest progress. Political news in Brazil is also weighing in the markets. Their former president is under investigation.

A strong job report was reported this week. US employers added 242,000 workers in February, higher than then 200,000 expected.  US unemployment rate held steady at 4.9% in February.

Next week we are looking towards the USDA S&D report that will be released Wednesday, March 9 at 12 Eastern time.  I don't think we will see numbers change that much, bigger report will be on Thursday, March 31st for the USDA Prospective Plantings Report.

1 comment:

Stephen Tuck said...

You might see a bit of an uptick over the next month or two. The grain harvest here in eastern Australia isn't expected to be much good: the rains in Spring came at the wrong time and a hell of a lot of crops were cut and baled for stockfeed. Not sure how the West Australian grainbelt fared, but I haven't heard anything especially good about it.