Market Matters Blog
Pat Hill DTN Markets Editor

Tuesday 03/16/10

Cash Grain Indexes Mixed Monday

The DTN Soybean Index was up 4 cents Monday, while corn was off a penny, and the wheat indexes lost 4 to 8 cents as analysts searched for new ways to say "sideways trade."

DTN Senior Analyst Darin Newsom this morning said, "Until more is known about the old-crop situation or new-crop slides into a weather market, don't expect corn to break out of its established trading range," -- a sentiment that seems to be pretty widely held.

While the overall markets may be somewhat directionless at the moment, there is still a fairly wide variation in cash bids across the U.S., and that's made pretty clear in the range of the DTN regional cash indexes for both corn and beans.

In corn, the regional indexes range from 2.90 in ND/MN to 3.35 in eastern Iowa. In soybeans, the regional indexes ranged from 8.52 in ND/MN and 8.53 western KS up to 9.03 in Great Lakes region and 9.08, southern Illinois. And there were some uneven gains in the soybean regional indexes Monday, up 3 to 6 cents.

Early calls for Tuesday's day session put soybeans in the lead, starting out about a nickel higher, while corn and wheat are expected to open steady to firm.

Posted at 6:09AM CDT 03/16/10 by Pat Hill
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