By the end of Friday, March 4, grains were higher. Brazil had heavy rains towards the end of the week delaying their harvest progress. Political news in Brazil is also weighing in the markets. Their former president is under investigation.
A strong job report was reported this week. US employers added 242,000 workers in February, higher than then 200,000 expected. US unemployment rate held steady at 4.9% in February.
Next week we are looking towards the USDA S&D report that will be released Wednesday, March 9 at 12 Eastern time. I don't think we will see numbers change that much, bigger report will be on Thursday, March 31st for the USDA Prospective Plantings Report.
1 comment:
You might see a bit of an uptick over the next month or two. The grain harvest here in eastern Australia isn't expected to be much good: the rains in Spring came at the wrong time and a hell of a lot of crops were cut and baled for stockfeed. Not sure how the West Australian grainbelt fared, but I haven't heard anything especially good about it.
Post a Comment