Red Across the Board for Grains

March 4, 2011 11:11 AM
 

This information is provided by Scott Harms - Archer Financial Services, Inc. 800-933-3996.

It was a wild week at the CBOT this week. It was “red” across the board, with May corn down over 60 cents, May soybeans down nearly 80 cents and wheat down over a dollar. 

One key to marketing is determining where the attention of the market will be. The near term focus in these markets has shifted from fundamentals to technicals. Most technicians will be calling for tops in these markets after this week’s sell off. 
 
However, if recent history is a guide, it will not take long for the market to climb out of this hole once the focus shifts back to the supportive fundamental picture. 
 
The late week tragic news from Japan will grab the hold the market’s attention early in the week as it will be determined how demand will be affected from the United States’ best corn customer.  Look for a price recovery next week with the critical March 31st acreage and stocks report less than 2 weeks away.

 

3 11 11 Prices

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COT 3 11 11

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