Closing Comments

Lynn Miller

January 27^th, 2016

Corn:

Corn was on the defensive today with the nearby’s managing to close unchanged while the deferred months lost ground.  Ethanol production was down for the 2^nd week in a row.  Now at 961,000 barrels/day (down 22,000 from last week)  Stocks; however, were down for the first time in a while.

Closing Comments

Lynn Miller

January 26^th, 2016

Corn:

A quiet, quiet session today with no new out there perceived as ‘market moving’.  No exports today and ethanol numbers are out tomorrow.  Lack of any upward movement kept producer at selling to a minimum (at least in the US).  Most marketing targets are 15-20 cents over the current market. 

Closing Comments

Lynn Miller

January 25^th,  2016

Food for thought: Is your condo full of beans and you want to haul corn?  Here are a couple ideas.  You can move delivered beans from Condo to free DP and free up space to pull your bin tops into the Condo space.  Or, you could look at Basis Fixing your Condo beans to make more room.  Basis fixes works good in a minimal carry or inverted market and will help you protect the current basis levels with forward levels wider.  If you have any questions, give any of us in the grain department a call, we’ll run through the pros and cons with you.

Closing Comments

Lynn Miller

January 22^nd, 2016

Corn:

Export sales today were stellar at 1157.7 tmt WAY over the top end of the trade guess with the top three buyers being Mexico, Japan and Korea.  Offers from Asia and Argentina still undercut the US by $0.12 for Feb delivery but that has narrowed from $0.21 last week.

A good rebound in crude oil, up $2.66/barrel last I looked, helped us along today as well.  

Closing Comments

Lynn Miller

January 21st, 2016

A nice rally in US stocks and crude oil helped to lift the commodity market in general today. 

Corn:

Some have thought that yesterday’s buying in corn was proof that this market has run out of sellers.  We could be hopeful of that, but we continue to test the $3.69 level and fail to finish through it, finding a few sellers yet late session as producer movement stepped it up a little in the US.

Closing Comments

Lynn Miller

January 20^th, 2016

Corn:

A quiet choppy trade that managed to finish a penny higher with no desire to drive this market lower when none of the bear stories out there (albeit they are few) are coming to fruition.  Funds managed to cover between 4 and 6,000 contracts of their short position, and I wonder how many of these were the reversal of long bean, short corn spreads?

Closing Comments

Closing Comments

Closing Comments

Lynn Miller

January 14^th, 2016

Corn:

A basically unchanged market that teetered either side of unchanged was what we got today as demand stay stagnant and no we have no real supply threat out there to give us momentum.

Closing Comments

Lynn Miller

January 13^th, 2016

One concern I hear coming from the USDA report yesterday is the decrease in planted acres.  USDA shows all major crops covered 307.0 acres.  2014 total planted acres reached 313.6 that’s nearly a 4 million acre loss.  And, they say we planted 3 million less wheat acres so far.  Now we have a shortage of 7 million acres.  Do you think the American farmer will plant less acres in 2016?