2013 Archived Market Comments from Frank Backx

Frank's Market Comments November 27, 2013
The soybean market continues to defy gravity, despite recored production predicted for South America. It's all about demand, especially from China.

Frank's Market Comments November 14th, 2013
It was a mixed bag in grain markets again over the past 2 weeks, with soybeans the upside leader and wheat the weak link. Dec corn futures appear to have found support near 4.15.

Frank's Market Comments October 30th, 2013
Grains showed little net change over the past four weeks, in trade that can best be described as choppy. Corn continues to drift into new three year lows, but with little follow through to the downside, while soybean and wheat trends remain more sideways.

Frank's Market Comments October 2nd, 2013
Grains were lower, dropping in reaction to theUSDA stocks report issued September 30. The final carry out for the 2012/13 corn crop was put at 824 mln bu., compared to 661 mln estimated last Sept 12. They reduced corn feed use to only 228 mln bu in the summer quarter, down nearly 100 mln from last year.

Frank's Market Comments September 18th, 2013
Crop prices were slightly weaker compared to two weeks ago. Soybeans were the most volatile commodity, with a $.68 range over the time period. Much of that had to do with the USDA report issued Sept. 12.

Frank's Market Comments September 4th, 2013
Soybeans were the star performer again over the past two weeks. Conditions remained hot and dry over the best growing areas of the Midwest, especially Iowa and Illinois. More of the same is forecast for the Labor Day week, which will further stress crops.

Frank's Market Comments August 28th, 2013
Prices gained over the past week, led once again by soybeans. From its low on Aug 7, to its high on Aug 26, the November contract gained a remarkable $2.47. Corn and wheat only rallied $.62 and $.42, respectively from their recent lows.

Frank's Market Comments August 20th, 2013
Crop prices were higher over the past two weeks, led by soybeans. The soybean yield is primarily made in August during pod fill and conditions over much of the Midwest have turned hotter and drier. 

Frank's Market Comments August 7th, 2013
Markets have turned quiet of late, as enough price was likely taken out of them for this time of year. Keeping buyers at bay is the non-threatening weather. Importers, especially China, have been active, but so too has speculative selling.

Frank's Market Comments July 24th, 2013
Crop prices were weaker again, led by the corn market. Timely rains in the driest areas and cooler temperatures came just in time for corn pollination in much of the Midwest (and Ontario). A sharp break in old crop soybeans and soymeal also caused speculators to head for the sidelines. 

Frank's Market Comments July 10th, 2013
Corn was the weakest grain over the past two weeks. It dropped $.50 in reaction to another bearish USDA report issued June 28. They said corn acres would be a record 97.4 million, with a yield of 156.8 bushels per acre, the third highest ever. Many feel there were 1-3 million acres not planted, due to excess moisture.

Frank's Market Comments June 26th, 2013
Grain markets were mixed over the past two weeks. Corn fared the best, as wet conditions in north Iowa, south Minnesota and Wisconsin prevented all the intended acres from being planted. Crops in these areas that are planted are also suffering from the excess moisture.

Frank's Market Comments June 12th, 2013
Soybeans were the strongest crop again over the past two weeks. This is somewhat surprising considering that planting was late in the Midwest, which usually means more soybean acres at the expense of corn. Perhaps it is that soybean planting is more seriously delayed, and multiple rain events were forecast for the unplanted areas over the next week to ten days.

Frank's Market Comments May 29th, 2013
There was a huge difference in grain price movement through May, with soybeans being the strongest, especially in the tight old crop. China was still taking US beans as over 300 million bushels of boat space was still waiting to be filled at Brazilian ports. Meanwhile, US processors were aggressively bidding for the limited supplies. 

Frank's Market Comments May 1st, 2013
Net changes weren’t large over the past 2 weeks, although volatility increased, with even a limit move up in corn on Mon April 29. The North American weather market has definitely started. 

Frank's Market Comments April 17th, 2013
Grains recovered some of the ground lost after the March 28 stocks report. Fund liquidation appears to be subsiding, as their combined ownership of the 3 main grains is the lowest since last June, when the US drought started. 

Frank's Market Comments April 3rd, 2013
Grains fell under the weight of USDA’s March 1 stocks report that was issued last week. Corn took the biggest hit, falling $.90 in less than 2 trading days, an unprecedented drop in such a short time. 

Frank's Market Comments March 6th, 2013
Wheat was the biggest loser over the past 4 weeks for a couple reasons. The first meaningful precipitation hit the hard red wheat areas in 9 months. With spring just around the corner, this will be helpful to get the wheat off to a better start after dormancy.

Frank's Market Comments February 6th, 2013
The wheat market has been the weakest, despite the severe drought in Kansas and Okla. Only 20 % of the hard wheat is considered good or excellent, the lowest ratings ever.

Frank's Market Comments January 24th, 2013
Grains strengthened over the past two weeks. USDA marginally lowered the carry outs in corn, soybeans and wheat, although that was not totally unexpected. The most bullish surprise was......

Frank's Market Comments January 10th, 2013
Grains are sharply lower compared to 5 weeks ago. C
orn and wheat made 6 month lows, triggering funds into selling more and more contracts.

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