Morning Comments; Wednesday, March 3rd, 2019

The seven-day forecast for the southeast and delta region is expected to see a decent amount of measurable precipitation moving forward. According to the National weather service, the lower Mississippi river is already seeing significant flooding, and will see extended levels of high water as we move towards warmer temperatures in the Midwest. The extended forecast shows a slight warm-up, but less than optimal temperatures conducive to fieldwork beginning down south.

There are thoughts that we could see a large increase in soybean acres as wet spring is being predicted. A large increase in bean acres does seem attainable considering the amount of field work last fall that did not happen due to an early freeze. Acres that did not get fall fertilizer applied, will be forced to make tough economic decisions based on rotation and nitrogen costs with respect to the forward prices of each crop.

Market Movers: Money Flow, Technical indicators

For more information, you may contact Brock Beadle at 515-341-7040, or e-mail at bbeadle@maxyieldgrain.com. The opinions and views expressed in this commentary are solely those of Brock Beadle. Data used in writing this commentary obtained from various sources believed to be accurate. This commentary is intended for informational purposes only and is not intended for developing specific commodity trading strategies. Any and all risk involved with commodity trading should be determined before establishing a futures position.




 

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