Grain Complex

The CRB TrendTrader report is Short Soybeans, Wheat, Corn, Meal, Oats, Rice and Long Bean Oil.

See full position report below.

Remember - day traders work for the markets - Trend Traders let the markets work for them, the Trend is your friend!

The CRB Futures Market Service is one of the oldest and most respected market letters in the industry since 1934.

Grains

Grain prices this morning are higher. May corn this morning is up +1-1/4 cents, May soybeans are up +5-3/4 cents, and May wheat is up +4-3/4 cents. The grain markets yesterday finished mostly lower. May corn closed unchanged, May soybeans closed down -26-1/2 cents, and May wheat closed down -3 cents. May corn and May soybeans fell to 1-month lows and May wheat plunged to a 5-month low. Bearish factors included (1) the decline in gasoline which undercuts ethanol prices and corn demand, (2) carry-over weakness in wheat prices after the USDA Wednesday hiked US wheat stockpiles to a 22-year high, (3) slack foreign demand for US corn after the USDA reported US corn sales in the week ended Mar 4 plunged -56% from a week earlier, and (4) concerns that more buyers of US soybeans will cancel purchases and seek supplies from South America after the USDA reported that buyers canceled 115,808 metric tons of US soybeans purchased in the week ended Mar 4. Bullish factors included (1) the weaker dollar, and (2) increased foreign demand for US wheat after the USDA reported that US wheat sales for the week ended Mar 4 quadrupled from the previous week. ......more detial