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Market Moment

Grains results for All Months from All Years

Corn.... Testing New Territory?

Published on Tuesday, August 29, 2017

Tuesday's trade in new crop (December) corn ventured into a very significant territory by pressing below $3.50/bu. For the past few years, $3.50/bu has been a significant level for new crop contracts. Most recently, the 2016 contract (See 2016 December Corn Chart Below) found both support and resistance at these levels as we headed into the fall period. It was the July violation of $3.50 that...

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Standing at the Edge

Published on Monday, August 21, 2017

While the masses are focusing on data provided from the Pro Farmer Crop Tour, markets are carving a watch point of their own....new contract lows.  This morning, September corn ventured into territory that it had yet to explore by breaching the low established last August.  See Chart. Last August, the contract moved to $3.48 1/4/bu before beginning to rebound.  From there, prices w...

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Digging deeper into the USDA's August WASDE Report

Published on Monday, August 14, 2017

Following the release of the USDA August WASDE report, there is no question that the world was surprised.  Corn finished the day down 15 cents after news of a 169.5 bushel yield.  Soybeans dropped 33 cents in the wake of an upward yield revision to 49.4 bushel/acre.  So how did they arrive at these numbers?  There is always much contention about the process, but here is the ful...

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August USDA Supply & Demand Estimates for Grain

Published on Thursday, August 10, 2017

  Shock and Awe are two words to describe the USDA's reporting of corn and soybean yield today.  Whereas the average guess for corn was 165.9 bushels per acre, the USDA reported an estimate of 169.5.  That leaves ending stocks very near to 2.3 billion bushels.  Prices dropped 15 cents as a result.  Soybeans followed suit.  However, instead of lowering yield they rais...

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The US Dollar....Helping the Cause of Ag Exports

Published on Monday, August 7, 2017

Last spring, the US Dollar began strengthening to a peak that was witnessed on the first business day of 2017.  This peak had not been equaled since 2003.  Since then, it has been moving steadily lower.  Last week, the market arrived at a point of major support that has been widely respected since moving back to these levels in early 2015.  Market analysts now ask the question ...

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