Wheat Report, 03/30/2016

Wednesday, March 30, 2016

The wheat complex is weaker this morning after another strong session yesterday. The weather continues to present challenges for the US HRW belt. Some chances for moisture are working into the long-term forecast, but we’re dealing with warm temps and high winds. The US Dollar Index is trading near multi-month lows after Janet Yellen’s speech to the New York Economic Club. Maybe we’ll finally start to see export business pick up to finish the marketing year. Tomorrow’s quarterly stocks number is expected to land at 1.356 mb, and average trade guess for planted acres is 51.26 m/a. Look for volatility to remain strong here today given the report and weather concerns. The market won’t calm down until either of these issues have passed. Outside markets are strong with the S&P trading up 11 points, 10 year Treasury down 17 ticks, and Crude oil up 75 cents.

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