Watch the U.S. Dollar!
SOURCE: CME Past performance is not necessarily indicative of future results. Although very reasonable attempt has been made to ensure the accuracy of the information provided, Utterback Marketing Services Inc. assumes no responsibility for any errors or omissions
Today the U.S. Dollar index was down with the December 2014 contract currently at 88.74 down .248. If you look at the continuous chart, the dollar is trading right around the June 2010 high and it could break out to the upside with the potential to go to the 92.00 level. This would be a bearish signal for grain exports. Continued strength in the U.S Dollar index could be considered negative for all commodities and should be watched.
In our opinion, the grain markets are in a sideways trading pattern until we have confirmation of actual production figures at the end of January. If we see continued good weather next year, producers should be prepared to see lower prices next year. Now is when you should be thinking about marketing for 2015.
For those of you who are just beginning or just want to refresh yourselves with marketing terms, ideas, and strategies, on Tuesdays and Thursdays we will have articles regarding terminology and marketing. If you have ideas, email me at [email protected].
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