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Market Report


Dow +19.66

S&P +1.11

Nasdaq -6.72

U.S. stocks were calm Monday ahead of a flurry of data and end-of-month portfolio positioning expected this week.  Investors will receive readings on manufacturing production and consumer sentiment, and the highly anticipated March jobs report is set for Friday morning. The data will be closely monitored following a week of renewed talk about the timing of the next Federal Reserve interest rate increase. Traders attributed Monday’s light trading activity in part to other stock markets around the world remaining closed.  Many global markets, including the U.S. stock market, were closed for Good Friday, and many major exchanges in Europe, including those in London and Frankfurt, and some in Asia, including Hong Kong and Australia, remained closed Monday.

Grain Markets at Close:

Corn +0’4@3.70’4

Beans -1’4@9.09’0

 

Quick update for you this Monday as we have a USDA report later this week.

 

Markets continue to hold their gains and I expect them to do so until Thursday when the scheduled USDA report is released.  Then we will see what the USDA had for us.  Be sure to have “above the market” orders in place, just in case of a volatile market.

 

New Crop beans rallied to $9.26 over night filling every one that placed an order at $9.25.  I just want to stress the importance of making a small new crop sale if you have not already.  YES, it may go higher, or it MAY NOT!  On the other hand, no one wants to be sitting there at $8.50 saying I sure wish I would have sold.  Instead lets reward the rally, especially since fundamentals are not supportive at this time.  If you have a sale, be happy, and hope this rally continues!

 

-The outside markets see the Euro +70 ticks, crude oil +41 cts, gold -$2, and Dow Jones futures +21 pts.

-In economic reports, US Feb Personal Income +0.2% vs expectations of +0.1%, US Feb Personal Spending +0.1% vs expectations +0.1%

-Hotter/drier  conditions and limited precipitation for the US southwest Plains over the next 10 days.  Warmer /drier conditions are forecasted for the Midwest.

-Malaysian palm oil rallied 35 ringitts overnight as analysts Dorab Mistry estimated Malaysian palm production will be down 2.0 million MT due to the El Nino.

-Friday, the USDA announced daily sales of soybeans sold to unknown destination, of which  214,000 MT  were for the 2015/16 marketing year and 90,000 MT for the 2016/17 marketing year.

 

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About katcountryhub
I am a graduate of Northeast Community College with a degree in journalism. I am married to Jeff Gilliland. We have two grown children, Justin and Whitney and four grandchildren, Grayce, Grayhm, Charli and Penelope. I will be covering Lyons, Decatur, Bancroft and Rosalie and am hoping to expand my horizons as time progresses!

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