** Contact Mark if you want our bids by text or emailed to your phone daily? Elevator Phone# 509-545-5179. Grain futures now trading 17.5 hours a day.
3/11 - No volatility here!! Wheat futures up 20c today and corn up 5c after being down 10-12c yest. China's economic slowdown and Rumored soybean cancellations had beans down 40c Monday, but up 2c today! Still stalemate on Russian/Ukraine/Crimea fronts. Last week wheat gained 50c/bu and corn up 26c. Wheat basis levels dropped 30c for the week to minimize the climb. Funds about have shorts covered in CGO wheat and seems more money on sidelines waiting for another story. Crimea parliament votes to join Russia and Russian forces took over Crimeas military base last Friday. Saga will continue and hopefully peacefully. The index Funds were short 700 mil bu of Cgo Wht to start this week and felt there was too much risk in that position. The Black Sea Region has the 3rd largest grain shipping Ports in the World and the fear is a Russian Ukraine & the West conflict could shut down these Ports. So far their grain ports are still loading ships. Meanwhile on the Home Front, Columbia/Snake River System navigation is down for 2-3 weeks for annual scheduled Dam Maintenance. Last Thursday was last day to load barges as river shuts down til Mar 15. We have empty barges here to stay open during this closure. US and Canadian Railways are getting an F on moving grains. Argentina announced they will grant wheat export licenses for 20 mil bu, which shld kick US wheat out of Brazil thru the Spring. Soybeans up $1.50/bu to $14.50 same time frame. Another cold blast hit upper plains and midwest & keeping selling pressure away. US exports for week ending Feb 27 good at 65 mil corn, 38 mil beans 25% new crop, & 22 mil bu wheat sold. I think the Feb1 lows were the bottom for a while. No shortage of grain in the World, just a shortage of rail transportation and vessel berths to move the grain. SW in $7.30 range.
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Tuesday brought rain and snow to northern Midwest and Plains, and Wednesday will see eastern and central Midwest with snow and rain. Southeast areas will see rain. Other areas will be dry. » More DTN Weather Commentary