Mark's Market Talk for March 18, 2024

Mar 18, 2024

Most of us caught some rain late last week ranging from 0.6 to over 2 inches closer to the Missouri border. It was good to know it can rain and hopefully we will continue to get some showers prior to planting. The markets closed mixed last week as May corn was down 3 cents while beans ended the week 14 cents higher. New news was very limited, and it will probably stay that way until the USDA releases their predicted planting estimates later this month. Several companies have released what they think the acre mix will be and as normal there is a wide range of numbers floating around. An early spring in the midwest normally means more corn acres. Right now, it appears we may get started early, but we may have a shot of winter to battle yet which can whoa the planters in a hurry. More producers are planting beans early so that might change things up just a little. If you look to the south cotton prices are record high and may steal some bean acres along the way. Cattle prices are high so we may see some limited acres go back into grass, but it won’t be enough to affect things. Market wise continue to look for rallies and get some old crop grain on the road. New crop prices are not very exciting, and they may stay that way unless we hit some bumps in the road. So, keep an eye there for someplace to start pricing new bushels.