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Grabanski

Ray Grabanski

Ray Grabanski is president of Progressive Ag, A Fargo, N.D.-based hedge brokerage firm. Reach Grabanski at (800)450-1404.
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Articles

Weather concerns drive market

Weather and planting delays had a strong influence on wheat prices during the week of April 15.

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Wheat sparked by fresh demand

The wheat markets had gains of up to 24 cents last week. The Chicago market was the leader of the grain markets with fresh demand news. The Minneapolis market struggled to follow along with much smaller gains, as spring wheat is not competing with corn in feed and ethanol rations.

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USDA report a non-event

The wheat markets had losses of 16 to 28 cents last week. Winter wheat is now cheaper to feed than corn in many areas, with the May winter wheat contracts now trading on par with corn.

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Strong market for old crop corn

The wheat markets had net losses of up to 7 cents last week. The Chicago market had support from the corn market, while the Kansas City market tried to overcome pressure from another round of snowfall on the Southern Plains.

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Demand drives grain markets higher

The wheat markets had gains of 25 to 28 cents last week.

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USDA report surprises wheat market

The wheat markets had gains of 10 to 25 cents last week, with all of that gain coming after 11 a.m. Jan. 11. The market was quiet all week before the U.S. Department of Agriculture brought some much-needed positive news to the wheat markets.

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Funds liquidate to begin new year

The wheat markets had losses of 21 to 31 cents last week. The Kansas City market had the lighter losses because of a continuing weather premium in that market.

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Chinese cancellations drop market

The wheat markets had losses of 15 to 20 cents last week, following along with the steep losses seen in the row crop markets. Noncommercial money was flowing out of the grain markets ahead of the holiday breaks and year-end.

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USDA report a mixed bag

The wheat markets had losses of 30 to 45 cents last week. The December U.S. Department of Agriculture report increased ending stocks because of weak exports.

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Grabanski: Soybeans lead grains

January soybeans gained 40 cents last week. Export demand for soybeans has continued to be exceptionally strong, and the South American weather forecasts also continue to impact soybean futures.

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Columns

Markets slip lower

Wheat lost ground big last week on improving conditions. The Wheat Quality Tour is estimating a much better than expected winter wheat crop while crop conditions in the Northern Plains have been close to ideal.

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USDA report surprises

Wheat struggled last week, even with a friendly U.S. Department of Agriculture report. For the week ending April 12, May Minneapolis dropped 8.5 cents, May Chicago was 75 cents higher, and May Kansas City was off 9.5 cents.

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Exports drive market

The corn market was up 30 cents last week in old crop, while new crop contracts gained about 10 cents. Talk of increased exports to China provided direction to the market early last week, while the possibility of an early planting season due to warm weather in the Corn Belt was talked about through the second half of last week.

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Firm markets start new month

The corn market gained 8 to 10 cents in both old and new crop contracts last week. Corn found support from smaller South American production and tighter U.S. old crop ending stock estimates. The U.S. Department of Agriculture will release its next monthly crop production and supply/demand report on March 9.

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Soybeans take a strong lead

The corn market lost 5 cents in March and 15 cents in December last week. Corn continued to trade in its sideways pattern. The market found support from fresh export sales along with tight ending stocks, while the new crop market is finding pressure from larger acreage and yield estimates.

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USDA report offers little surprise

The corn market lost 10 cents last week as there were no big surprises in the U.S. Department of Agriculture supply and demand report. Traders were expecting tighter stocks and an increase in exports, which did materialize and was built into the market.

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February starts on firm footing

The corn market remained unchanged last week and traded near $6.40 in the March contract. The futures traded in a sideways pattern last week as it lacked any fresh news. Decent export sales last week, a firm cash market and lack of farmer selling offered support.

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Potential exports drive wheat higher

The corn market gained 25 cents last week with the strength in the wheat market. Rumors that Russia may put a tax on wheat exports and may even ban exports supported the wheat market which spilled over to corn. The strengthening export demand and a firming cash basis also offered support last week.

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USDA deflates bulls

Corn started last week trading with strength due to continued weather concerns in South America, primarily Argentina. But the gains were short-lived once USDA’s reports were released. USDA’s Final Crop Production report was not friendly for corn, as USDA raised 2011 U.S. corn yields and harvested acreage.

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Market quiet ahead of report

Wheat started the week on the defense and traded with losses throughout the session. Early pressure was a result of spillover pressure from a sharply higher U.S. dollar. Additional selling was due to news that Egypt bought 120,000 metric tons of Ukraine wheat. The Minneapolis exchange was the best performer as concerns about tight stocks of high-quality wheat continue to support hard wheat’s.