Friday March 27,2009

The verse of the popular tune back in the 70's went something like Fridays and Mondays always get me down. Well down we went on Friday especially in the soybesn market as old crop beans were down 27 cents and new crop down 19 cents Corn was down 2-3 cents across the board and wheat losses were 6-7 cents. The U.S. dollar index was
considerably higher on the day along with the financials lower on the day. Basing the bearishness on the outside markets the grains really didn't have a chance today.Beans on the week lost 32-35 cents, corn lost 8-9 cents and Chicago May wheat lost 43 cents. It seems like the traders had started to turn their attention toward
Tuesday's USDA Planting Intentions and Quarterly Stocks reports. The early guesses are for a increase in bean acreage and a decrease for corn acres. The amount of change is all over the board.
Closes for the week
Corn May 3.87
DEc 4.1925
Beans May 9.17
Nov 8.6075
Wheat May 5.0725
July 5.20

Chuck Peterson