The 2011 Prairie Grains Conference took place Wednesday and Thursday at the Alerus Center in Grand Forks, North Dakota. The conference included presentations on Thursday concerning everything from weather to markets to conservation to tiling.
One popular session gave us a look behind what is driving the markets. Neal Driscoll, Grain Platform Trader with Louis Dreyfus Commodities spoke to growers about what is affecting the markets beyond the headlines. Concerning stiff competition in the Black Sea Region and low quality Australian wheat competing with corn among Asian buyers like China, Japan & South Korea, Driscoll says it is hard to define price action for corn through the winter.
Driscoll also spoke about wheat quality around the world being an issue for prices and demand.
He says that as far as the USDA supply demand report Friday is concerned, it will be boring. Driscoll says the one that everyone will really be looking forward to is the January report.
And, he says that outside of grain fundamentals, the issue growers really need to be aware of when executing their marketing plans over the winter and spring is to watch regulation.
Driscoll says that there are many things to watch in the market today, but farmers themselves are still key influencers as they decide when and how much of their grain to sell at different times.