Today’s Prices

Grain markets finished mixed again today with traders being very cautious ahead of the February crop report.

Grain Market News

Weekly Ethanol Production

Our year-to-date production is just shy now of 6 months or halfway through.

Our year to date is down 4% from last year.

USDA is estimating it will be down just 1% this year.

At this time, we are running behind the current estimate.

NOPA Soybean Crush

NOPA accounts for 95-96% of the U.S. soybean crush.

4 months into the marketing year, our year to date crush is down 6/10 of 1%, USDA is estimating it will up 1.9% this year.

Animal Product Production

U.S. and World Ending Stocks

South American 2023 Production

Corn S&D

Soybean S&D

Wheat S&D

Grain Market News

March Corn Chart

Corn prices very quiet so far this week.

Looking at our recent trading range, corn is positioned fairly close to that range.

Looking at the longer-term trading range we are also very close to the center of that range.

March Soybean Chart

Soybean prices today also closing close to the range that’s been in place over the past month.

Looking at the chart it’s been very erratic, up and down which has allowed the technical indicators to chop up and down.

March KC Wheat Chart

Wheat price also stuck in a narrow range but it’s near the upper end of the range.

The long-term wheat chart does look better with prices trading above all the major moving averages.

This doesn’t mean we can’t have pull backs, but the market may find support on any sharp break in wheat.

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