Bower Trading Market Strategy Report: Market to Focus on Crop Conditions and Re-plant Progress
The market has been in a trading range and will likely remain that way for the next few weeks. Doug Werling, with Bower Trading, says that, while there are no big market movers, there are a lot of little ones, ?At some point, we are going to have to address the large amount of re-planting that is taking place. In addition, the Illinois corn crop is in the lowest starting position in 30 years. So there are a lot of factors out there that could move the market, the problem is they are just not widespread enough to get the market?s attention.? He added the market is trading in a very reactionary fashion, last Thursday?s session was an example.
Werling said another factor to watch this week is the value of the dollar, ?The dollar got below 97 on Friday for the first time in quite a while. That is a tremendous opportunity for the U.S. exporter.? He said, hands down, a lower dollar is good for U.S. farm exports.
For more information, contact Bower Trading at 1-800-533-8045 or www.bowertrading.com.
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