Announcements

WINTER GRAIN MEETING 

Wednesday, March 11th 

at the North Kossuth Golf Club, 505 East Ramsey Street Bancroft, Iowa

 9 AM - Coffee and Rolls

9:30 AM – Meeting

 FEATURING:

Troy Lust with FCStone

And

Jason Schwenneker, SLC’s NEW Grain Merchandiser


Futures
Quotes retrieved on February 24, 2020, 05:00:36 PM CST



SLC Commentary

 

StateLine Evening Comments February 24th 2020

Corn: North Burt down 5 @ 3.57

Corn prices traded lower on weakness in the soy complex and wheat markets. Fears stem from the spread of the coronavirus to more countries than just China. Prices drew additional pressure from ideas of plentiful supplies and slowing demand from the spread of the Chinese virus.  Many months have dipped down to new contract lows.  The Dec 2021 contract sits just below its contract low of $3.94 ¼. 

  • Closes: March at $3.72 ¼, down 4 ¾ cents, July at $3.79 ½, down 4 cents, September at $3.77 ¾, down 4 ¼ cents, December at $3.82 ¼, down 3 ¾ cents
  • Weekly export inspections were 913 tmt, near the top end of the trade estimates (600-950 tmt).

Soybeans down 16 @ $ 8.19

Soybean prices were lower on lack of trade with China, fresh worries of the coronavirus spreading to countries other than China and big crops coming from South America. The products were on the defensive as well. The November 21 contract dipped down to a new contract low (9.02 versus contract low of 9.05). 

  • Closes: March at $8.74 ¼, down 16 ¼ cents, July at $8.94, down 15 ¾ cents, August at $8.98, down 15 cents and November at $9.05, down 12 ½ cents. The products were down sharply with meal down 3-4 bucks and oil down 115 points.
  • Weekly export inspections were 595 tmt, below trade estimates (600-1.1 mmt).
  • The USDA announced the sale of 164k tonnes of soybeans to Mexico for the current marketing year.
  • The canola market tanked in sympathy with the US soy complex and weaker Palm oil. Prices drew additional pressure from big vessel lineups off the coast of British Columbia from protests that were disrupting rail car movement

 



Forecast
Burt, Iowa (50522)
Current Conditions Sunny
Temperature 34°F
Dew Point 34°F
Pressure 29.91 in. Hg
Humidity 100%
Wind 11 mph
From Northeast


Forecast



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