Wednesday, February 20, 2019, 6:25 a.m. – Yesterday was a negative day for our markets. Spot corn closed down 5, spot soybeans closed down 6 3/4, spot spring wheat was down 17 1/2 and spot winter wheat was down 14 1/2. In the overnight trade corn and both wheats are back on the positive side with soybeans still negative. Oil closed up $0.50 yesterday at $56.09 per barrel. It is down just a bit this morning with it now trading at $55.97 per barrel. Our dollar started out at $0.755 US yesterday morning and then lost about 20 basis points in value before it turned around and went in an uptrend for the rest of the day and the overnight session. This morning it is currently valued at $0.759 US. Our markets had a very poor day yesterday. There was nothing really negative reported to turn the markets lower but they just turned lower with the lack of any positive news being reported. With no good news to trade with the fundamental side of the markets took over and prices turned lower. The only real positive from the trade yesterday was that soybeans closed about 6 cents higher than their trading low for the day. Corn and both wheats closed at or very close to their daily lows. On Friday this week the USDA will be releasing 6 weeks of export data. Hopefully this will give our markets something positive to trade with. Remember just last week when the export data for the first week of January was released our markets went down as the export numbers were very disappointing. This week the Outlook Conference in the US is taking place. They will be releasing initial estimates for intended acres of corn and soybeans. This also has the potential to move the market as acreage swings definitely affect supplies. Please call Geoffrey Guy at 613-880-2707or Bob Orr at613-720-1271 if you would like any direct ship pricing. Prices quoted herein are for product at our elevator.
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