Early Market Talk March 17, 2020


FCStone implementing isolation policy this week that includes some staff working from home. Plans in place to insure business as usual but you may hear a new voice or two on the phone. The goal is to have as little disruption to you as possible. Most do already but for the next several weeks, good practice to cc Pam and Mindi on email inquiries.

Markets rebounding overnight after another tough day yesterday with the Dow turning in its third worst day ever. Dow futures this morning up 442 points at 20,845. Some bargains out there to be sure.

At 0600 CK20 a scratch higher at $3.55 with SK20 6 ½¢ higher at $8.28. Both on decent volume of 15 and 22K. Chi and KC wheat firm as well.

Crude up 67¢ at $29.39 and the US $ showing sharp gains. Poor ethanol margins and reduced gasoline consumption expected to slow ethanol production? Corn basis slipping at some locations.

CKCN 3 ¾ this morning and could make a run towards the 6¢ level. Central US weather pattern for the next 10 days remains active with several rain chances. Longer term guidance trending drier.

BNSF rail freight remains at a discount through summer with offers as much as -$200 / car.

Weekly export inspections solid at 32.7 mmt corn and 21.3 mmt soybeans yet remain below the pace needed to reach current USDA annual export estimates.

Anxiety remains high in all markets this morning with lingering uncertainty.

Market Talk Footer

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

E- mail: Bruce.Nelson@IFCS.com

1075 Jordan Creek Parkway Suite 300
West Des Moines, IA 50266

800-422-3087 Ext 3791