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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 9/14/09

Sep 14, 2009
 
SETTLEMENTS 9/14
         
 
Sep 09 Corn
305 ¾     
- 8 ¾ 
Dec 09 Corn
317 ½   
- 2 ¼ 
Sep 09 Beans
920
- 64 ½
Nov 09 Beans
906
+ 3 
Dec 09 Wheat
453
- 14 ¼  
Dec 09 KC Wheat
467 ½
- 10 ¼ 
Dec 09 Min Wheat
483  
- 11
Dec 09 Meal
278.1
+ 2.6
Dec 09 Oil
33.85
- 0.05
 
 
 
 
 
 
 
 
 
 
 
 
 
 




Corn, Soybeans End Mixed; Weather Forecasts Fail To Excite
 
Corn and beans saw a two-sided trade while wheat continued to sell off. Over the weekend we finally got the possible freeze forecast that everyone has been waiting for. However, the market did not rally off of this news. I think there are a number of possible reasons for this. There are a lot of traders that are long beans and under water in their trades. Also, producers are still holding a large amount of grain that must be priced and moved. In addition, stories about possible trade disputes with China and more talk about tighter regulation on position limits put pressure on commodities in general.
 
We will continue to watch the weather closely, but it looks like there is a good chance that we have a big corn crop on the way and producers are still holding a large amount of un-priced grain. In our opinion, this will cause corn to have another sharp break as we head into December. Demand is picking up, and there are some real positive signs ahead for the corn market. These things will matter eventually, but for the next 60 days corn prices could come under a lot of pressure. In the meantime, I would look to...
 
Looking at the soybean complex, the market is still very "long" soybeans and soybean meal. In addition, pod counts were high on the USDA repot and with plenty of precipitation the potential is there for a big national bean yield average. Without any frost problems, we should see soybeans and soymeal prices continue to soften. 





 



 
 
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COMMENTS (5 Comments)

Anonymous
E Hedger,,,where do you get your information on all this un-priced corn!! There is none left in my area..Heck Truckers say trying to find a load of corn or soybeans to haul is like trying to find Hens teeth.
12:42 AM Sep 15th
 
Anonymous
$2.50 for my hard red spring wheat. 12.3% protein. Im losing money on one of my better yielding crops. In a state with a lot of prevented planting acres 1.96 million to be exact. The guy that took the pp is smiling this year. At least he wont lose money. No fool me I go out and plant a late crop some a little past dates and this is what I get........ Wonderful
10:29 PM Sep 14th
 
 
 
 
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