February 19, 2016

The grain markets turned slightly negative on the day despite solid export sales for corn.

Weekly sales totaled 41.3 mb for corn, 20.8 mb beans and 9.3 mb for wheat.

The outside markets have turned bearish as crude oil retreats below $30 and 20 day moving average.

Interesting to see yesterday’s volume for WTI crude OTC’s was 15X the previous 3 day average. The USDA released county production numbers yesterday afternoon.

Cherokee Co. leading IA corn yields @ 209.6 bpa; Sioux Co beans @ 60.4 bpa (1st).

Likewise for IL, Piatt Co led the state in corn & beans yields @ 220.5 bpa & 69.3 bpa.

SA weather remains favorable; NE Brazil is becoming warm and dry but production limited.

The US 8-14 day outlook continues to show above normal temps for the western 2/3rds of US.

Deere & Company indicated sales fell 13%, more than the 11% decline forecasted.

For the first time, Bernie Sanders now leads Hillary Clinton by 3% points in the national poll.

February 19, 2016