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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 Afternoon Grain Commentary 1/16/13

Jan 16, 2013

Corn, soybeans, and wheat all finished higher Wednesday with soybeans leading the way.  It appears the market is still ready to buy soybeans which could be in anticipation of large soybean sales on Thursday morning’s export sales report.

Corn closed higher but traded lower for much of the day after the EIA Ethanol numbers were below estimates and considered "bearish".  In fact this is the lowest weekly production since they began recording it in June of 2010.  Ethanol stocks were also the highest they have been in 4 weeks.  With ethanol profit margins in the red for so many weeks in a row it is not surprising to see the slump in production.

Weekly Export Sales Guesses for January 17th 2013:

Corn

 

250,000 – 475,000

Soybeans

 

550,000 – 750,000

Wheat

 

275,000 – 425,000

Soymeal

 

75,000 – 150,000

Soyoil

 

10,000 – 25,000

 

Colder temperatures in the US are still supportive for wheat and the dryness in Argentina and Southern Brazil are supporting soybeans.  As of right now we don’t believe South American production will be cut from current estimates but it warrants monitoring the forecast for any changes.

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EHedger

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www.EHedger.com

 

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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