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Mid-Week Grain Wire

20-Mar-2019

HERITAGE COOPERATIVE GRAIN

Grain prices continue to trace a stagnant path this week as traders put sights forward on planting intentions. Wheat is providing support today with uncertainty over losses in the plains. But traveling too high will price wheat out of the world market again, so it’s a slippery slope.

The losses on farms and in communities from storms and flooding across the western part of the corn belt are heart wrenching and massive. There is much uncertainty about what impact these conditions will have on timely planting and how many acres may be impacted. Most agree it is too early for major concern as today’s large equipment can cover a lot of ground in a short amount of time, but the forecast will be monitored closing moving forward now.

The extended April weather forecast is beginning to look a little wetter than previously thought for the west while the eastern states appear to have a more favorable outlook for planting. Again, it’s way too early to take these forecasts for fact.

There’s been no solid evidence that China and the United States are ready to sign a trade deal yet, so market continues to lay in wait and African Swine Fever continues to garner a lot of attention.

Locally, it’s been a little quieter so far this week. Corn and beans are moving on free delayed price rates and the only sales appear to be for money flow needs.

Traders will get a look at export sales again tomorrow.

This is a good time to get target offers in place with your grain buyer.