Market Report

Dow +37.63
S&P +4.64
Nasdaq +17.34
U.S. stocks rose today, keeping them on pace to finish February higher after steep declines in January. The Dow Jones Industrial Average gained 72 points, or 0.4%, the S&P 500 climbed 0.5%. The Nasdaq Composite was up 0.6%. The Dow was on track for a 1.5% gain in February after losing 5.5% in January, putting its year-to-date loss at around 4%.

Oil prices rose today on signs that U.S. drilling activity is hitting new lows.

Despite plummeting oil prices in the past year and a half, global crude output has increased as production in the U.S. remained high and the Organization of the Petroleum Exporting Countries has opted keep pumping at a fast clip. The global crude-oil market is expected to remain oversupplied through the rest of the year. Interesting to note that the nation’s stockpiles have risen to the highest in more than 8 decades!

Grain Markets 12:14pm
Corn-1’0 @ 3.53’4
Beans-1’4 @ 8.53’4

Choppy grain markets to start the week out. After attempting to close positive for the month, at midday we’re stuck in negative territory.

USDA Outlook Forum last week stuck a negative tone with lower 2016 price forecasts on heels of slowing global growth, a strong dollar, weakening Chinese import growth and adequate stocks.

Export inspections out this morning were lackluster and as expected. Corn at 29 mbu (26-31 exp); Beans at 38.5 ( 37-59 exp) and wheat at 13.7 (10-15 exp).

1,000 bushels

U.S. stocks rose today, keeping them on pace to finish February higher after steep declines in January.  The Dow Jones Industrial Average gained 72 points, or 0.4%, the S&P 500 climbed 0.5%. The Nasdaq Composite was up 0.6%.  The Dow was on track for a 1.5% gain in February after losing 5.5% in January, putting its year-to-date loss at around 4%.

Oil prices rose today on signs that U.S. drilling activity is hitting new lows.

Despite plummeting oil prices in the past year and a half, global crude output has increased as production in the U.S. remained high and the Organization of the Petroleum Exporting Countries has opted keep pumping at a fast clip. The global crude-oil market is expected to remain oversupplied through the rest of the year.  Interesting to note that the nation’s stockpiles have risen to the highest in more than 8 decades!

Grain Markets 12:14pm

Corn-1’0 @ 3.53’4

Beans-1’4 @ 8.53’4

Choppy grain markets to start the week out.  After attempting to close positive for the month, at midday we’re stuck in negative territory.

USDA Outlook Forum last week stuck a negative tone with lower 2016 price forecasts on heels of slowing global growth, a strong dollar, weakening Chinese import growth and adequate stocks.

Export inspections out this morning were lackluster and as expected.  Corn at 29 mbu (26-31 exp); Beans at 38.5 ( 37-59 exp) and wheat at 13.7 (10-15 exp).

Greg Mockenhaupt

ProEdge Risk Management Consultant

P: (402) 685-5613 | Greg.Mockenhaupt@cvacoop.com

1007 County Road O

Oakland, NE 68045

www.cvacoop.com