King Dollar looks set to rule ag markets throughout 2015, according to Ben Buckner, AgResource. Having hit its highest levels in a decade, it is leading to prices for grains being lowest outside the United States. “France is offering the cheapest wheat, at $5.60 fob, a new marketing year low,” he says. Ukraine has the cheapest corn, at $4.30/bu. and South American beans, at $10.20/bu.
South American analyst Pedro Dejnka reports more than 50% of Brazilian beans have gone through the combine, basis is down and the stocks at ports have been replenished. The second corn crop is almost all planted. “Yesterday, in a rather uneventful meeting, the government and truckers met to discuss how to address the truckers’ concerns. They agreed that setting a diesel price is an extremely difficult thing to do and have moved on to how to set a minimum freight price agenda. They are scheduled to meet again March 26 when the trucking industry is to make a proposal.
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