Markets were lower all across the Chicago Board of Trade last week.
A market analyst shares how the markets started off the new week.
Brian Grossman, of Zaner Ag Hedge, on Monday looked at the Chicago Board of Trade, like he often does every day. However, something seemed different.
?There?s not a whole lot to be worried about right now,? Grossman said. ?The Crop Progress report is going to show that we?re behind, but not by a significant margin, considering it?s the twenty-second of April. The question is exports. Where?s the final number going to land? We have a strong U.S. dollar, which is making our export targets much harder to hit.?
Producers should be concerned, especially about the downside.
?The market is not worried about supply. The pressure does remain on this market. (If) we grow a ?not so average? crop, we?re (still) going to have a large amount of soybeans on hand. Corn too. With the last Quarterly Grain Stock seeing an extra 275 million bushels made the picture much more challenging to overcome,? Grossman said.
Producers should keep targets in place and stick to prepared plans.
?The markets are going to go through their cycles,? Grossman said. ?Managed money pushed themselves to another new record net short. There?s always a possibility of a weather scare to happen. Follow what your marketing plan says, keep your targets in place and try not to worry about it too much on down days.?
