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EHedger Report

RSS By: Dustin Johnson

Dustin works with a wide net of large producers throughout the Midwest. His analytical market approach and objective hedge strategy development is specific to the needs of every individual.

EHedger Closing Grains Commentary 11/09/09

Nov 09, 2009
SETTLEMENTS 11/09
         
 
Dec 09 Corn
386  
+ 19
Nov 09 Beans
964 ¼   
+ 16 ¼ 
Dec 09 Wheat
520    
+ 22 ¾ 
Dec 09 KC Wheat
521 ¾ 
+ 20 ¾
Dec 09 Min Wheat
546   
+ 27 ¾ 
Dec 09 Meal
294.3
+ 5.5
Dec 09 Oil
37.51
+ 0.74
 
 
 
 
 
 
 
 
 
 




 
      Corn, wheat and soybeans all closed sharply higher. Good harvest weather over the weekend and a good outlook for the remainder of the week caused prices to open lower overnight. However, the U.S. dollar index broke sharply to new 15-month lows overnight and this attracted more buying into the commodity markets. Most people attribute the break in the dollar to the fact that the U.S. House passed their version of the Health Reform Bill over the weekend. The USDA will release their November Supply and Demand estimates tomorrow. These will be the last estimates of the year. With harvest pace so far behind (especially in corn), it is hard to tell what the USDA will say tomorrow. So far, most people are looking for a slight increase in soybean production (3.27 billion, yield 42.7 bu./acre) and a slight decrease in corn production (12.995 billion, yield 163.7 bu./acre). I will write a detailed commentary after the close tomorrow. All of our customers should be caught up with our recommendations. Please call before the report if you have any questions. 
 
 
 
 
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Trading commodity futures and options involves substantial risk of loss and may not be suitable for all investors. The market information contained in this message has been obtained from sources believed to be reliable, but is not guaranteed as to its accuracy or completeness. Market information may not be consistent with current or future market positions of E Hedger, its affiliates, officers, directors, employees, or agents. Recipients assume the risk of reliance on and indemnify and hold E Hedger harmless for any and all losses, costs, or tax consequences incurred as a result of their use of market information.
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