Free DP: Soybeans Only, Off Farm Delivery. DP Free Through August 15th, Rates after that are TBD.
March 30, 2015
USDA Quarterly Stocks and Prospective Plantings Reports will be released at 11:00AM tomorrow, March 31st.
Grain markets closed the day firmer with short covering seeming to be the theme ahead of tomorrow’s much anticipated USDA Stocks & Acreage Reports. The slower planting pace in the Delta region also continued to lend some strength to the corn market as well. The bean market traded the majority of the day 6 to 8 cents better but did back off of highs in late trade as the trade is expecting the USDA to show another year of record U.S. soybean plantings. Average estimates for tomorrow’s Prospective Plantings report has corn at 88.731 million acres vs. 90.597 million seen in 2014 and soybean average acre estimates are 85.919 million acres vs. 83.701 million acres in 2014. Average Quarterly Stocks estimates have corn at 7.609 billion bushels and soybeans at 1.346 billion bushels. These USDA reports will be released tomorrow (March 31st, 2015) at 11:00 AM. Funds finished the day being buyers of 6,000 corn contracts and 10,000 wheat contracts and were even in beans. Outside the grain markets, Crude Oil was trading down 30 cents late, the Dow was up 284 points and the U.S. Dollar Index was up 500 points.
This data and these comments are provided for information purposes only and are not intended to be used for specific trading strategies. Although all information is believed to be reliable, we cannot guarantee its accuracy or completeness. The risk of loss in trading futures and/or options is substantial. Each investor must consider whether this is a suitable investment. When trading futures and/or options, it is possible to lose more than the full value of your account.
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