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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 3/21/13

Mar 21, 2013

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Soybeans bounced sharply off their recent lows while corn and soybeans remained flat-lower. Soybeans were oversold relative to corn and soybeans and had a large technical rebound. Weekly Export Sales were poor for corn, soybeans, and wheat but the oil and meal sales were on the high end of expectations.

Only a week away from one of the most important report days of the year and we continue to see massive position changes.  Corn open interest has risen substantially over the past 7 days with another 14,197 contracts added yesterday.  The funds have been moving money back into corn which has helped corn reach levels it hasn’t been to in over 45 days.

May 2013 Corn

May 2013 Corn

Informa will release their acreage estimates tomorrow morning so look for those numbers to influence market action.  No major changes to our market opinion which is wide-rangebound moves in old crop corn and soybeans and a long-term negative bias for new crop pricing based on overcompensated uncertainty risk premium.

 

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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