Wheat Moves Higher, Soybeans and Corn Slump on Supply Report
Wheat Trades Higher
Agricultural Weather Market
Warmer weather is on its way to the central U.S., with some slightly above-normal temperatures possible over the next few days. The latest cumulative seven-day precipitation map from NOAA shows a wet week ahead, with much of the central U.S. expecting 2” or more additional rain and/or snow through March 15.
Agricultural Weather Market
CHICAGO BOARD OF TRADE (Futures Magazine). Today’s top market-mover is Wheat. Wheat moved higher on some bargain buying, despite some bearish export and ending stocks numbers. Corn and soybean prices slumped, even though the agency’s supply and demand data for those commodities was not all bad.
Agricultural Weather Market
Warmer weather is on its way to the central U.S., with some slightly above-normal temperatures possible over the next few days. The latest cumulative seven-day precipitation map from NOAA shows a wet week ahead, with much of the central U.S. expecting 2” or more additional rain and/or snow through March 15.
Macro Outlook
On Wall St., a weak jobs report suppressed stock prices, as the Dow fell 180 points in early afternoon trading to 25,292. Energy prices fell on large supplies, with crude oil, gasoline and diesel all down around 2% this afternoon. The U.S. Dollar softened.
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