Wednesday March 21, 2012



Commodity
Period
Price  
Weekly Movement - Wednesday to Friday
 
 
 
 
 
 
 
 
Corn CBOT
May
6.4200
?
29.00
cents
Soybeans CBOT
May
13.5500
?
18.50
cents
Wheat CBOT
May
6.3625
?
50.50
cents
Wheat Minn.
May
7.9875
?
23.00
cents
Wheat Kansas
May
6.7500
?
30.00
cents
 
 
 
 
 
 
Canadian $
June
1.0050
?
12.00
points
Statistics Canada published its latest estimate of the Canadian Composite Leading Indicator (CCLI). The CCLI is a composite index designed to forecast developments in the Canadian economy. It is comprised of 10 components which are thought to precede cyclical activity in the economy and together represent all major categories of Gross Domestic Product (GDP). The federal agency's index showed a rise of 0.6% following a 0.4% advance in January, with six of the 10 index components increasing during the month. Some of the components include the TSX, the money supply, employment, the average workweek in manufacturing from the labour force survey, and housing starts. However, the loonie initially fell over concerns about China's economy slowing down sending investors to the greenback, but gained some of the losses back on Wednesday. 
CORN
Corn fell in Chicago on technical selling and long liquidation as investors banked profits ahead of the release next week’s USDA March planting intentions report.	Corn reversed progress from four month highs on Monday triggering a 2.3% skid Tuesday. There are reports of fields planted mid-March in central and southern Illinois, however many producers are still waiting to plant. They are concerned that a return to normal temperatures means that cool periods or even frost could slow growth or kill emerged plants. Buyers in Taiwan have purchased corn from Ukraine in small consignments to test quality according to European sources. 
SOYBEANS
Soybean rose in Chicago for the first time this week on speculation that reduced output in South America will force Chinese importers to buy more from North American growers. China imported 3.83 million metric tons of soybeans in February, up 65% from a year earlier.	


WHEAT
Wheat futures fell in Chicago closing near their daily lows on technical selling and forecasts for good crop weather around key growing areas of the United States. Forecast of rains in the Great Plains are improving prospects for winter crops that recently emerged from dormancy. 
Contract prices for March 21st, 2012 at close, are as follows:
SWW at $228.96 per tonne ($6.23/bu.), HRW at $260.03 per tonne ($7.08 /bu.),
HRS at $273.74 per tonne ($7.43 /bu.), and SRW at $236.27 per tonne ($6.43 /bu.).
       Ontario Grain Market Commentary for March 21, 2012
       By Ahmed Chilmeran, Grain Farmers of Ontario