Corn Report, 03/10/2016

Thursday, March 10, 2016

Another WASDE report gone and pass and it seems the last month didn’t even happen as there were no changes in the corn numbers, and the market reflected that with a tight 4 cent trading range, the CK settling at $3.595. This doesn’t come as a shock and most traders have been overlooking this report and thinking about the planting numbers report coming out the 31st, this report has a history of throwing a wrench in the market because the numbers they post defy logic, so that could be our next chance at a hard flat price rally. The big news of the morning is the ECB dropping rates to 0% which has pushed the dollar even higher, currently up 1,091 points, which will just keep the pressure on commodity exports. The silver lining in this is the REAL and other world currencies should catch the same bounce upward as the dollar and keep us somewhat competitive. The country seems to have seen a little strength in the processor basis with some areas up a couple cents, but producer movement remains low to nonexistent with field work going/starting in almost all areas. The CK has support at $3.56 then $3.54 with resistance at $3.625 then $3.78. Looking to see the CK stay steady to grinding lower today.

Unless otherwise noted, the posts on this blog should be construed as market commentary, merely observing economic, political and/or market conditions, and not intended to refer to any particular trading strategy, promotional element or quality of service provided by INTL FCStone Inc. or its subsidiaries. INTL FCStone Inc. is not responsible for any trading decisions taken by persons viewing this material. Information contained herein was obtained from sources believed to be reliable, but is not guaranteed as to its accuracy. These materials represent the opinions and viewpoints of the author, and do not necessarily reflect the viewpoints and trading strategies employed by INTL FCStone Inc. or its subsidiaries. Reproduction without authorization is prohibited. All rights reserved.

Market Intelligence Free Trial

Meet the Team

Kansas City, MO
1251 NW Briarcliff Parkway
Suite 800
Kansas City, MO 64116
Tel:+1 (816) 410-5079



Our privacy policy has changed. View our privacy policy to learn more.