Bower Market Strategy Report: No Big Moves Likely Until the End of the Month

by | Mar 19, 2017 | HAT News Feed

Bower Market Strategy Report: No Big Moves Likely Until the End of the Month

Jim Bower

Over the past several weeks, the grain and oilseed market has been in a trading range. While prices have trended higher and lower, the market has not engaged in a breakout either to the upside or the down side. With the planting intentions report set for release by the USDA at the end of March, Jim Bower sees the market staying in this trading range for the next several weeks. ?The market seems to want to hold,? he stated. ?If you try and sell a put option, the market will not give you much of a premium.?

In his weekly Market Strategy Report, aired on Hoosier Ag today radio stations around the state, Bower said the Federal Reserve action this past week has kept the value of the dollar lower which keeps the U.S. competitive from a currency standpoint and may help to stimulate U.S. grain exports. Bower, however, sees the market becoming more volatile over the next two weeks, ?This week will not be as quiet as last week. We are starting to see some field work being done and producers are finalizing production decisions.? He added that the market will begin to pay a lot more attention to weather maps, not only in the Midwest, but in the West where temperatures have been up and moisture short.

Bower sees the biggest negative in the market right now is the large crop and excellent pace of harvest in South America, ?They are a major competitor, and we just have to live with that.?

For more information, contact Bower Trading at 1-800-533-8045.

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