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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 Afternoon Grain Commentary 3/19/13

Mar 19, 2013

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May corn continued to climb on fresh fund purchasing Tuesday.  Corn and wheat are still trading in tandem while soybeans trend lower on continued technical action and South American soybean cancellation rumors.

Corn open interest is still rising substantially and is a clear sign that money is entering that market.  Total open corn contracts of corn were up another 9,329, which totals 44,134 since Wednesday of last week! It is pretty clear from the intra-commodity swings that they have been buying corn and selling soybeans.  The "managed money" has held a fairly massive long position in soybeans for a while now.  With harvest ongoing in South America US soybeans may have a hard time finding support without more demand based stories.

 

Next target for May corn at $7.47 ½

 

May 2013 CornMay 2013 Corn

 

Next target for December corn at $5.69 ¾ (that’s the 50 day moving average)

 

December 2013 CornDecember 2013 Corn

 

We want to remain hedged but still allow for plenty of upside should any weather problems arise.  Please contact us with any questions or to review your current marketing plan in our proprietary farm management marketing software, AgYield.

 

EHedger  |  866.433.4371

Premier full service commodity brokerage offering risk management services for the agricultural sector as well as professional traders.

EHedger is a premier full service commodity brokerage offering risk management services for the agricultural sector as well as professional traders.

Trading commodity futures and options involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge and financial resources. 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 EHedger LLC, its affiliates, officers, directors, employees or agents.

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