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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.

Friday's Grain Recap 1/20/2012

Jan 20, 2012

Grains finished mixed again with more corn and soybean spreading.  March corn finished 5 ½ cents higher at $6.11 ½, March wheat up 4 ¾ cents at $6.10 ½, and March soybeans down 10 at $11.87.

We started the day session with stronger than expected export sales for corn, soybeans, and wheat.  Initially the market opened weaker despite these strong sales.  The early weakness was likely caused by another break below $100 in crude oil and unfavorable outside markets.  By the end of the day corn and wheat managed to finish higher.  Cash bids for corn continue to come in strong and have helped push the front month corn markets higher.   An increase in estimated corn acreage from Informa didn’t help the price of new crop corn.

 

Here are the following results from the Weekly Export Sales:

 

                   1/20/2012              Estimated Range

Corn             759,900 MTs           550,000 MTs - 750,000 MTs

Wheat          584,200 MTs           350,000 MTs - 450,000 MTs

Soybeans      991,100 MTs           550,000 MTs - 750,000 MTs

 

CATTLE ON FEED:            1/20/2012

Placements:                      94% as expected

Marketings:                      98%, the estimate was 97%

On Feed:                          103% the estimate was 104%

 

The CFTC’s Commitment of Traders report was also out today. The "managed money" increased their net short position in Chicago wheat by 13,827 contracts. They also decreased their net long position in corn by a whopping 47,443 contracts and lowered their net long soybean position by 11,068 contracts.  They were obviously caught long for the report and were exiting positions/and or getting short.

 

For a free risk assessment using our AMMO Software, please give an EHedger broker a call today.  The software combines your cash sales, futures/options, crop insurance, and local cash bids all while taking into account YOUR personal cost of production.  Come see where your marketing plan stands. www.ammoag.com

 

For a free trial of our research, please click on the following link: www.ehedger.com/signup/

 

Best Regards,

 

EHedger

866-433-4371

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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