The Can $ is lower again today by half a cent. Sitting at $ 77.050 at this time. Since Feb 1st we have gained and benefited from a 4 cent drop in the Can $ . So much for the experts suggesting we were heading for par by summer, a very unforeseen turn of events for the dollar. This has been a excellent opportunity for producers to book. Fundamentally the supply & demand situation shows the market shouldn’t be reacting this way. ( But hey ! the market is always right. )
The weather market is driving the spec money on the near by futures. The.May contracts of soybeans and winter wheat were a little higher early Monday with ongoing concerns of drought in Argentina and the southwestern U.S. Plains still active.
Locally barley & wheat user demand is steady but not brisk. Corn is slow moving and very low priced at this time and is holding other prices down. Some producers are holding on in hopes of better returns later this spring.