Wednesday, March 17, 2010

Commodities: Grains Up on Weather

Grain Prices Up

With weather projected to have a negative impact on spring planting, grains responded by rising in price, with major crops wheat, corn and soybeans all increasing today.

Other factors helping grains jump up were the stock market rising and the dollar weakening again.

In the Midwest, it's expected to be wetter than it normally is, and in southern States like Texas, it's expected to be cooler; bringing doubt as to how the planting season will launch.

Floods are forecast for a number of Midwestern states, including Minnesota, Iowa and North Dakota.

This is all typical of this time of the year, and once acreage is detemined by the USDA, things always settle back down to market forces and usual grain pricing behavior follows.

Grain Prices Up

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