Market Report
March 5, 2016 Leave a comment
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).
1,000 bushels | CURRENT MARKET YEAR | PREVIOUS MARKET YEAR | |||
———– WEEK ENDING ———- | |||||
GRAIN | 2/25/2016 | 2/18/2016 | 2/26/2015 | TO DATE | TO DATE |
BARLEY | – | – | 151 | 1,364 | 6,918 |
CORN | 29,038 | 35,778 | 50,454 | 581,087 | 731,718 |
FLAXSEED | 1 | 1 | – | 162 | 239 |
MIXED | – | – | – | – | – |
OATS | – | – | – | 117 | 13 |
RYE | – | – | – | – | – |
SORGHUM | 4,279 | 8,547 | 8,063 | 203,022 | 187,531 |
SOYBEANS | 38,538 | 56,887 | 23,908 | 1,413,634 | 1,540,392 |
SUNFLOWER | – | – | – | 1 | – |
WHEAT | 13,666 | 9,910 | 17,665 | 543,594 | 624,569 |
Total | 85,522 | 111,123 | 100,241 | 2,742,979 | 3,091,379 |
Greg Mockenhaupt
ProEdge Risk Management Consultant
P: (402) 685-5613 | Greg.Mockenhaupt@cvacoop.com
1007 County Road O
Oakland, NE 68045
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