Brooks Schaffer

This is the Market Report with Brooks Schaffer of Palmetto Grain. Reach him at [email protected] or 843-540-4540. March corn broke through the $4 level on Friday. This was the first time we have been below $4 since 2020. Soybeans also traded to levels not seen since 2020. There is not much new fundamental news and […]

This is the Market Report with Brooks Schaffer of Palmetto Grain. Reach him at [email protected] or 843-540-4540. Even many market analysts who were bearish have been surprised at how fast corn and soybean markets have dropped. The selling has been relentless and it has come in a combination of the funds building short positions and […]

This is the Market Report with Brooks Schaffer of Palmetto Grain. Reach him at [email protected] or 843-540-4540. The USDA outlook conference is underway yesterday and today. USDA will give us the first glimpse of the new crop production and balance sheet estimates. This data is compiled by the USDA economists and not from survey data […]

This is the Market Report with Brooks Schaffer of Palmetto Grain. Reach him at [email protected] or 843-540-4540. Grain and oilseed markets closed higher on Monday despite strength in the dollar and weakness in crude oil. There were also big general rains across much of Argentina and Brazil furthering crop development which should have been bearish […]

This is the Market Report with Brooks Schaffer of Palmetto Grain. Reach him at [email protected] or 843-540-4540. The USDA February report is typically a non-event as there are not typically any big changes made. USDA does not make changes to the US crop size and typically only minor changes to the demand side. South American […]

This is the Market Report with Brooks Schaffer of Palmetto Grain. Reach him at [email protected] or 843-540-4540. Corn and soybeans posted key reversals Tuesday. That is a technical trading term that is used when a market makes new lows but then closes higher. Bulls hope that means the market has run out of willing sellers […]

This is the Market Report with Brooks Schaffer of Palmetto Grain. Reach him at [email protected] or 843-540-4540. Grain and oilseed markets start the week off on a sour note with March beans closing below $12 for the first time and March corn posting a new low close as well. Beans, corn and wheat were able […]

This is the Market Report with Brooks Schaffer of Palmetto Grain. Reach him at [email protected] or 843-540-4540. Grain and oilseed markets continue to chop ahead of USDA’s data dump this afternoon, Jan 12th, at noon. Beans have been weak for most of the week. Corn and wheat have managed to scratch out some positive closes […]

This is the Market Report with Brooks Schaffer of Palmetto Grain. Reach him at [email protected] or 843-540-4540. The second week of 2024 is not starting off any more friendly for the grain bulls as the first week. Soybeans started off the week down double digits, corn down a nickel and wheat down almost 20 cents. […]

This is the Market Report with Brooks Schaffer of Palmetto Grain. Reach him at [email protected] or 843-540-4540. Grain markets started off the New Year on a bearish note led lower by beans and wheat. Corn is still just along for the ride. The weakness came mostly from weather as the Northern growing region of Brazil […]