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January 2014 Archive for Hedging Corn and Soybeans

RSS By: Howard Tyllas, AgWeb.com

Howard Tyllas is currently a member of the Chicago Board of Trade and registered with the Commodity Futures Trading Commission as a floor broker and as a Commodity Trading Advisor.

WASDE Report 1/10/14

Jan 10, 2014

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WASDE Report 1/10/14 

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Attention Corn & Soybean Producers:


Feel free to inquire on learning about the best way to hedge. In my opinion my strategy is the best I have seen since I became a member in 1976 trading corn and soybeans for my own account.
Are you tired of listening to the same BULL ****, and services that do not have a plan if the market goes down instead? Hedge means to take risk off the table, and my service has all producers 100% hedged and they do have most of the upside unhedged (if we can rally for whatever reason). Hedge with a Pro and option expert who has been trading grains for 40 years. 

Sign up: Free 1 Day Trail of My Daily Numbers & Hedge Ideas 

OILSEEDS:  U.S. oilseed production for 2013/14 is estimated at 97.3 million tons, up 0.9 million tons from last month.  Larger crops for soybeans, cottonseed, and peanuts are partly offset by reductions for sunflowerseed and canola.  Soybean production is estimated at 3.289 billion bushels, up 31 million bushels based on increased yields and harvested area.  The soybean yield is estimated at 43.3 bushels per acre, up 0.3 bushels from the previous estimate.  Soybean crush is raised 10 million bushels to 1.700 billion reflecting higher projected soybean meal exports, which partly offsets a reduction for Argentina.  Soybean exports are increased 20 million bushels to 1.495 billion reflecting record shipments during the first quarter of the marketing year and strong sales through December.  Soybean ending stocks for 2013/14 are projected at 150 million bushels, unchanged for last month.  Soybean oil balance sheet changes include increased production on a higher crush and extraction rate, reduced imports, increased projected exports, and increased ending stocks.

The 2013/14 U.S. season-average farm price forecast for soybeans is narrowed 25 cents on both ends of the range to $11.75 to $13.25 per bushel based on prices reported to date.  The soybean oil price is forecast at 35.5 to 39.5 cents per pound, down 2.5 cents on both ends.  The soybean meal price is projected at $415 to $455 per short ton, up 15 dollars on both ends of the range.

Global oilseed production for 2013/14 is projected at a record 505.9 million tons, up 3.6 million.  Global soybean production is projected at 286.8 million tons, up 1.9 million on gains for the United States and Brazil.  The Brazil soybean crop projection is raised 1.0 million tons to a record 89.0 million.  The increase is due to higher projected area reflecting recent survey data from the Brazilian government.  Global sunflowerseed production is raised 1.3 million tons to 43.7 million on record forecasts for Ukraine, Russia, and the European Union.  The Ukraine crop is raised 1.0 million tons to 12.5 million on higher yields.  Other changes include increased cottonseed production for China and Argentina, lower cottonseed production for Pakistan, and increased rapeseed production for Russia.

Global oilseed trade for 2013/14 is projected at 128.9 million tons, up slightly from last month.  Increased soybean exports for the United States are partly offset by reduced rapeseed export prospects for Australia and Canada.  Lower soybean meal exports for Argentina resulting from lower soybean crush are offset by gains for the United States, Brazil, and Russia.  Increased global soybean oil trade mainly reflects a higher projection for the United States.  Global oilseed ending stocks are projected at 85.1 million tons, up 2.3 million from last month on increased soybean stocks in Argentina and Brazil, increased canola stocks in Canada, and higher sunflowerseed stocks in Russia and Ukraine.


WHEAT:  U.S. wheat supplies for 2013/14 are unchanged this month, but lower expected use raises projected ending stocks 33 million bushels.  Feed and residual use is lowered 60 million bushels reflecting disappearance for June-November as indicated by the December 1 stocks released in the Grain Stocks report.  Feed and residual use is lowered for Hard Red Winter (HRW) and Hard Red Spring, and Soft Red Winter wheat.  Seed use is raised 1 million bushels based on the winter wheat planted area reported today in the Winter Wheat Seedings report.  Wheat exports are projected 25 million bushels higher, with an increase for HRW, on the strong pace of sales and shipments and lower expected competition from Argentina, particularly in Brazil’s milling wheat market.  The 2013/14 season-average farm price is projected 10 cents lower at the midpoint with the range narrowed to $6.60 to $7.00 per bushel.

Global 2013/14 wheat supplies are raised 1.5 million tons to 888.8 million with production increases for China and the FSU-12 more than offsetting reductions for Argentina and the European Union.  Production is raised 1.0 million tons for China reflecting the latest estimate by the China National Grain and Oil Information Center and indications from the National Bureau of Statistics for total 2013/14 grain production.  Production is raised 0.6 million tons for Russia and 0.3 million tons for Tajikistan, both based on the latest official indications.  Production is reduced 0.5 million tons for Argentina with harvested area expected lower.  Production for the European Union is lowered 0.2 million tons with small downward revisions for the United Kingdom, Finland, and Denmark.

Global wheat trade for 2013/14 is raised with higher imports projected for Egypt, Japan, and Syria more than offsetting reductions for the Philippines and Tajikistan.  Exports are raised for the European Union and Russia.  Stronger North Africa and Middle East demand drives increases for the European Union and Russia, whereas reductions in Argentina supplies and exports indicate a shift to U.S. supplies for Brazil.  Foreign wheat feeding is lower mostly reflecting a 1.0-million-ton reduction for the European Union where increased exports reduce supplies available to the domestic market.  Larger barley supplies in the European Union this month support a shift to barley feeding.  Global wheat ending stocks are projected 2.6 million tons higher mostly on increases for China and the United States.

COARSE GRAINS:  U.S. feed grain supplies for 2013/14 are projected lower with reduced production estimated for corn and sorghum.  Harvested area for corn is raised 436,000 acres, but the estimated yield is lowered 1.6 bushels per acre to 158.8, reducing production 64 million bushels to 13.9 billion.  Sorghum harvested area is lowered 148,000 acres and the yield is lowered 2.6 bushels per acre, reducing production 27 million bushels.

Projected corn use for 2013/14 is raised with feed and residual use projected up 100 million bushels based on September-November disappearance as indicated by the December 1 stocks estimate.  Corn used to produce ethanol is raised 50 million bushels reflecting continued strong weekly ethanol production, a reduction in expected sorghum use for ethanol, and higher forecast 2014 gasoline consumption in the latest projections from the Energy Information Administration.  A 50-million-bushel reduction in other food, seed, and industrial use offsets the increase in use for ethanol.  Corn ending stocks for 2013/14 are projected 161 million bushels lower at 1.6 billion.  The projected 2013/14 season-average farm price for corn is unchanged at the midpoint with the range narrowed to $4.10 to $4.70 per bushel.

Other 2013/14 feed grain changes include increases in projected feed and residual disappearance for sorghum and oats, but a reduction for barley as indicated by December 1 stocks.  Sorghum exports are projected 20 million bushels lower as higher indicated September-November disappearance limits exportable supplies.  Sorghum food, seed, and industrial use is also lowered 20 million bushels.

Global coarse grain supplies for 2013/14 are projected 1.2 million tons higher despite this month’s reduction in U.S. production and a 1.9-million-ton decrease in global beginning stocks.  Higher 2012/13 corn exports for Brazil reduce beginning stocks for 2013/14.  Global barley production for 2013/14 is raised 1.6 million tons with increases for the European Union, Argentina, and Russia.  Foreign corn production is raised 4.3 million tons with higher China production.  China corn production is raised 6.0 million tons reflecting the latest upward revision by the China National Grain and Oil Information Center, indications from the National Bureau of Statistics for total 2013/14 grain production, and review of growing-season weather.  Favorable weather suggests year-to-year yield increases in most of China’s major corn producing areas.  In the northeastern region, above normal rainfall and favorable temperatures were experienced in nearly all of the corn areas.  Harvested area is also raised for China.

Partly offsetting the China corn increase are reductions in 2013/14 corn output for Argentina, Russia, and the European Union.  Production is lowered 1.0 million tons for Argentina with lower expected area and reduced prospects for yields following December heat and dryness.  Production is lowered 0.5 million tons for Russia based on the latest government data.  European Union production is lowered 0.3 million tons with a reduction for France.

Global 2013/14 coarse grain consumption is raised 4.2 million tons with the higher corn use in the United States and higher barley feeding in the European Union and Russia.  World corn trade for 2013/14 is lowered with a 2.0-million-ton reduction in imports expected for China.  Recent rejections of U.S. corn shipments by China and larger domestic corn supplies in China are expected to limit imports during the 2013/14 marketing year.  China sorghum imports, however, are raised 0.5 million tons.  Corresponding reductions in Mexico sorghum imports and feeding raise corn import needs for Mexico.  Corn imports are raised for Mexico and the Philippines, up 0.5 million tons and 0.3 million tons, respectively.  Corn exports for Argentina are lowered 1.0 million tons also supporting this month’s unchanged U.S. corn export projection.  Global corn ending stocks are projected 2.2 million tons lower with an increase for China more than offset by reductions for the United States and Brazil.


SUGAR:  Projected U.S. sugar supply for fiscal year 2013/14 is decreased 94,000 short tons, raw value, from last month, mainly due to lower production in Louisiana.  Total use is unchanged.

LIVESTOCK, POULTRY, AND DAIRY:  The forecasts for total red meat and poultry production for both 2013 and 2014 are lowered from December.  For 2013, beef production is raised, but pork, broiler, and turkey production are reduced.  The forecast for 2014 is reduced as lower pork and turkey production more than offset an increased beef production forecast.  The Quarterly Hogs and Pigs report, released on December 27, indicated that the September-November pig crop was fractionally below a year earlier which will constrain supplies of slaughter hogs in early 2014.  Although producers intend to farrow more sows in the first half of 2014, the impacts of the Porcine Epidemic Diarrhea virus (PEDv) will likely slow growth in pigs per litter and keep supplies of market hogs relatively tight during 2014.  Beef production is raised for 2014 as higher-than-expected placements in the later part of 2013 and expected availability of winter pasture support increased cattle marketings and slaughter during the year.  No change is made to 2014 broiler production.  Egg production is reduced slightly for 2013 and 2014.

Beef imports are unchanged for 2013, but are raised slightly for 2014.  Beef exports are raised for both 2013 and 2014 as the pace of exports over the past several months has been strong.  Pork imports and exports for both 2013 and 2014 are unchanged from last month.  The 2013 broiler export forecast is raised slightly based on exports to date, but the forecast for 2014 is unchanged.  Turkey exports for 2013 and 2014 are unchanged from last month.

Animal product prices for 2013 are adjusted based on December data.  For 2014, the cattle price forecast is raised from last month as demand for fed cattle remains strong.  Hog prices are raised as the production forecast is lowered.  Broiler and turkey price forecasts are raised from last month.  Demand for broiler meat is firm, supported by tight supplies of beef.  Turkey prices are expected to be supported by lower forecast production in early 2014.  Egg prices are forecast higher, reflecting current price strength.

The 2013 milk production estimate is reduced from last month, based on recent milk production data.  The forecast for 2014 is raised as improving returns are expected to support a more rapid increase in output per cow.  Fat basis imports are reduced for 2013 and 2014 on lower expected imports of butterfat.  On a skim-solids basis, imports are reduced slightly for 2013 but are unchanged for 2014.  Fat basis exports are raised for both 2013 and 2014 on relatively strong demand for cheese and other products.  Skim-solids exports are reduced slightly for 2013 as NDM exports lagged in November.  However, exports are expected to strengthen in 2014 and the skim-solids export forecast is raised.

Dairy product and milk prices for 2013 are adjusted to reflect December data.  For 2014, cheese, butter, and nonfat dry milk (NDM) prices are raised as export and domestic demand are expected to strengthen, but the forecast for dry whey is unchanged.  The Class III price is raised due to the higher cheese prices and the Class IV price forecast reflects higher butter and NDM prices.  The all milk price is forecast at $20.60 to $21.40 per cwt for 2014.

COTTON:  The U.S. cotton estimates for 2013/14 are revised slightly to reflect higher production.  Production is raised 118,000 bales from last month, due mainly to an increase for Texas.  Domestic mill use is unchanged, but exports are raised to 10.5 million, leaving ending stocks unchanged at 3.0 million bales.  The marketing-year average price is projected in a narrower range of 72-77 cents per pound, with the midpoint of 74.5 cents raised marginally from last month.

The 2013/14 world cotton supply and demand estimates include higher production and marginally lower consumption, resulting in an increase of 1.2 million bales in ending stocks.  Production is raised mainly for China, where government classing data indicates that Xinjiang production, which accounts for about 60 percent of the total, may exceed 2012/13.  Production also is raised for Argentina, but is reduced for Pakistan, and Pakistan’s consumption also is reduced.  World stocks are now projected at 97.6 million bales, with China accounting for 60 percent of the total.

RICE:  The U.S. 2013/14 rice crop is estimated at 189.9 million cwt, up 1.2 million from the previous estimate.  Average yield is estimated at a record 7,694 pounds per acre, up 34 pounds per acre.  Harvested area is estimated at 2.468 million acres, up 4,000 acres from the previous estimate.  Long-grain rice production is estimated at 131.9 million cwt, up 2.9 million from last month, and combined medium- and short-grain production is lowered 1.7 million to 58.0 million.  Rice imports for 2013/14 are unchanged from last month.

All rice and the long-grain rice 2013/14 domestic and residual use projections are raised 4.0 million cwt from a month ago as indicated by the December 1 stocks with all rice at 120.0 million cwt and long-grain at 88.0 million.  Combined medium- and short-grain domestic and residual use is projected at 32.0 million, unchanged from last month.  The all rice export projection is lowered 1.0 million cwt to 99.0 million—all in the long-grain class.  The pace of exports and sales of long-grain rice have been slow to markets in Sub-Saharan Africa and Central America.  The 2013/14 rough rice export projection is unchanged at 35.0 million cwt.  Exports of milled and brown rice are lowered 1.0 million cwt to 64.0 million (rough-equivalent basis).  All rice ending stocks for 2013/14 are projected at 28.3 million cwt, down 1.8 million from last month, and a decrease of 22 percent from a year ago.  Long-grain rice ending stocks are forecast at 17.3 million cwt, down slightly from last month, and a decrease of 21 percent from 2012/13.  Combined medium- and short-grain rice ending stocks are projected at 8.7 million cwt, down 1.7 million from last month, and a decline of 29 percent from last year.

The Rice Stocks reported total rough rice stocks at 132.8 million cwt as of December 1 and total milled stocks at 6.6 million (9.4 million cwt on a rough-equivalent basis).  Total rice stocks on a rough-equivalent basis are 142.2 million, down 10 percent from a year earlier.  Long-grain stocks as of December 1 are estimated at 89.1 million (rough-equivalent basis) and combined medium- and short-grain stocks at 50.3 million.

The 2013/14 long-grain season-average farm price range is projected at $14.80 to $15.80 per cwt, unchanged from last month.  The combined medium- and short-grain farm price range is projected at $16.30 to $17.30 per cwt, down 50 cents per cwt on each end of the range.  The all rice season-average farm price is forecast at $15.30 to $16.30 per cwt, down 10 cents per cwt on both ends of the range.

Global total supplies of rice for 2013/14 are raised more than the increase in total use resulting in an increase in world ending stocks.  Global rice production is projected at 471.2 million tons, still a record, and up 0.5 million from last month due primarily to increased forecasts for Brazil, Pakistan, and the United States.  Brazil’s crop is raised 0.1 million tons because of an increase in area.  Pakistan’s rice crop is raised 0.4 million tons because of an increase in average yield.  The U.S. rice crop is up on both an increase in area and yield.  Beginning stocks for 2013/14 are increased 0.6 million tons from last month due mostly to increases for Pakistan and Thailand.  Global consumption for 2013/14 is forecast at a record 473.1 million tons due mostly to increases for Brazil and the United States.  Export projections are raised for Argentina and Pakistan, and lowered slightly for the United States.  Imports are raised for the Philippines—up 0.2 million tons to 1.4 million.  Global rice ending stocks for 2013/14 are projected at 105.2 million tons, up 0.9 million from last month, but a decrease of 1.9 million from the prior year.  Ending stocks projections are raised for Pakistan, the Philippines, and Thailand. 


Want to know what I think for tomorrow and going forward?


The markets covered daily are 2013 & 2014 Soybeans and Corn.


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   Tel.1-312-823-9189, 1-702-405-7245

 


Disclaimer:    No guarantee of any kind is implied or possible where projections of future conditions are tempted. Futures trading involve risk.In no event should the content of this be construed as an express or implied promise, guarantee or implication by or from Howard Tyllas, that you will profit or that losses can or will be limited in any manner whatsoever. No such promises, guarantees or implications are given. Past results are no indication of future performance.

Hedging Corn and Soybeans & Trade Ideas for 1/2/14

Jan 03, 2014

 

 

Sign up: Learn a better way to hedge for free

 
Attention Corn & Soybean Producers:


Feel free to inquire on learning about the best way to hedge. In my opinion my strategy is the best I have seen since I became a member in 1976 trading corn and soybeans for my own account. 
Are you tired of listening to the same BULL ****, and services that do not have a plan if the market goes down instead? Hedge means to take risk off the table, and my service has all producers 100% hedged and they do have most of the upside unhedged (if we can rally for whatever reason). Hedge with a Pro and option expert who has been trading grains for 40 years. 

Sign up: Free 1 Day Trail of My Daily Numbers & Hedge Ideas 
 


This report was sent to subscribers on 1/1/14 3:30 p.m. Chicago time to be used for trading on 1/2/14.

All charts and numbers have been updated for 1/3/14 and sent out at 4pm.

December 2014 Corn

In my daily December 2014 corn numbers on Thursday my resistance was .00 ¾ from the actual high, my support was .01 ¼ from the actual low.                                   

 

March 2014 Corn

In my daily March 2014 corn numbers on Thursday my resistance was .00 ¼ from the actual high my support was the EXACT actual low.                 

Charts and Numbers for 1/2/14:

 December 2014 Corn

           Use the same numbers as used on 12/31/13
 
4.55 ¼ FG 
------------4.51 ¼           Pivotal Downtrend Line  
4.47 ¼                           2013 Low
   
   
5 day chart….     Down from last week same day            
Daily chart …     Down    
Weekly chart…  Down         
Monthly chart…Down                     5.11 is the 200 DMA
ATR 5 ½                                               Ex. Oversold 7%
  


         

In my daily December 2014 corn numbers on Tuesday my pivot was .00¼ from the actual high, my support was .02 ¼ from the actual low.                                     

March 2014 Corn  

        Use the same numbers as used on 12/31/13
                        
4.27 ½ FG                         
-------------4.24       Pivot     
4.20 ½                               
4.18 ½                    2013 Low                                    
                            
5 day chart….      Down from last week same day                                                                    
Daily chart   …    Down                               
Weekly chart …  Down                       
Monthly chart …Down               4.96 is the 200 DMA
ATR 6                                             Ex. Oversold 5%
   

    

         
In my daily March 2014 corn numbers on Tuesday my pivot was .00 ½ from the actual high my support was .00 ¾ from the actual low.                         

2012 low was $5.11 FG, 2011 low was $5.10 (now resistance), and 2010 it was $4.     

 1/2/14:

Grains:  Handwriting has been on the wall, no surprise with a decent crop we would be at $4.50 at harvest, and lower as time goes on without a shortfall in production. I have said and will remind you, this summer we will be at $3.50, and next New Year we will be at $3 weather permitting. Mother Nature holds all the answers, but I would completely throw out any guess by any service that predicted a shortfall in 2013 and yet did nothing to protect them or more importantly, you. You no longer rely on any service or anyone to make decisions that you should always have control over, your money. They had 3 big weather events that they bet the farm would cause a shortfall, drought, too wet, and then drought again. Where is the shortfall? At what point in time did they realize they have been totally wrong? How did they, these hedge services or speculative bulls, protect them from losing more on their idea than a reasonable amount in relation to the reward they went after? Having a plan for rewards are one thing, not having a plan and being wrong can lead to bankruptcy. When the unimaginable happens is when you make windfall profits, or lose everything.

Shoe is now on the other foot, end users will surely not want to take your grain now that supplies are large. Your basis was over the futures, and the futures were discounted because the market knows well like I do, that high prices cannot be sustained forever. Speculators and farmers lose track of the future, and tend to stay in the here and now.

I have been saying that my producers have witnessed their soybean basis continue to erode with no "bounce", and that weakness in cash is a good indication that the premium for old crop soybeans is fading at $13+. The reality of what is to come is in the November 2014 price and price action. It made a new low for 2013 to end the year, not a good sign for the bulls. I mean let’s face it, what fundamental is going to justify you losing more money in a losing trade, or what’s worse is that you are an unhedged farmer and watching your income for 2014 go out the window. Yes, we have been 100% hedged 2014 it seems forever since the original hedge at $5.60, but now it is a matter of staying ahead in our protection as production comes in good in SA and we proceed without a weather scare. That scare should happen, it usually does so the summer is where you will see us rally, but like I said in 2013, we might only rally to where you can sell it today. Yes, we will want to take off all our cheap upside that has little to gain and a lot to lose before the summer, and it already has done its job collecting premium.

Business decision, but never make the mistake that there is no risk until you hedge it someway. I worry about losing money, making more than your original hedge is never a problem. My producers know that when they are sending in money that is a good thing, more money can be captured, and we can get away without buying more expensive protection that we would need to do if the market went down instead. This year their accounts swelled. They did a great job in the bear market of 2013, with an original hedge at $6.50 last September. Old crop soybeans so far have gotten away from the bears teeth. $13.53 ½ was the high for 2013 made on Feb. 2, backed off and made a new low for 2013 at $11.69 on Aug. 7 before staging the best 3 week rally I have ever seen to $14.06. Now that high at $13.53 ½ has capped all rallies since then. $13.53 ½ was the high for December. High in 2012 was $14.09 ¾. And the November 2013 contract got to $14.09 ½. These chart levels and numbers are not coincidence, and clearly shows the premise to my approach for price discovery, and for price objectives as well as lines in the sand for risk.

I expect corn prices to erode before the report, and soybeans more likely to test the uptrend line than test the resistances again.  

I want to trade without bias and risk $.02 ½ in corn and $.05 in soybeans using a stop to protect. 

12/31/13:

Grains: ATR of $.06 in corn tells me not to expect too much movement one way or the other, and with the report less than 2 weeks away, there is no incentive for taking a position before the report. Unfortunately for the producer, he is long whatever is not sold or hedged. The mistake we never make is to think just because we have not sold it we can look for higher prices without risk. We take care of some risk by hedging, and THEN pursue higher prices knowing that if the market goes down instead, we protected ourselves when wrong about higher prices.

Like I have said many times the last few months, owning corn is like owning a wasting asset, and as long as production in SA has no problems and the US continues to have no current subsoil moisture problems, lower prices are on the way.

We have been hedged since $6.50 for current old crop corn, and $5.60 for 2014 corn, so now it becomes a matter of trying to keep our hedges current and keeping what we got. We did well with the 2013 crop already banking our hedge, and now we have ... Subscribe Now!

With 2013 and 2014 corn as well as November 2014 soybeans, they are pennies away from making a new low for 2014. The only market defying gravity is old crop soybeans. I thought the market would be $.15 off the low to end the year, but that was wrong, no problem. Instead of treading water until the report, prices are gasping for air when it can. The underlying fundamentals of more supply than demand is the problem with the market, and it will take a shortfall to stabilize prices, or much lower prices are needed to spur demand to actually use this burdensome supply.

Now the unhedged and bulls are leaning against $3.98 ¼ thinking what is another $.25 in losses after losing $2? The answer is $.25. It was not long ago when farmers were content to make $.25 for the year, now it seems they are content to lose that. This all goes back to what I have been saying, no what you are doing and why. By not having control you have no say in your fate.

Nobody knows what the market will do until the report comes out, and nobody knows what it will do afterward, so know what you are doing and why, and you have learned exactly that. The reason you hedge is to reduce risk, and that is the why. Knowing what you are doing has also been solved since you have learned a strategy to protect the downside as you pursue the upside. You have learned how to use the charts as a roadmap, helping you determine what up and downside potential the market has realistically. That with many other things has helped you to know what you are doing.

I expect another day with little volume, and my producers being quiet having the hedge they want. You have the luxury to keep an eye on your New Years plan instead of what the market is doing. I want to trade without bias and risk $.02 ½ in corn and $.05 in soybeans using a stop to protect.

                                              


Want to know what I think for tomorrow and going forward?


The markets covered daily are old crop, 2014 & 2015 Soybeans and Corn.


My numbers are sent before the night session begins. (via your email)


Find out why many of my subscribers keep renewing this service for years. 
 
Howard Tyllas Daily Numbers and Hedge Ideas is designed to help you plan your hedging strategies, and speculators for day or longer term trading.


$199.00 USD for each month, renewable monthly

HowardTyllas Daily Numbers and Hedge Ideas $199.00 monthly 


If clicking on the above link does not work please copy and paste the following in your browser: 
 
https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=GD5H5ZZLQD2V2
 
Howard Tyllas 
Put yourself in a position to make money, use the daily numbers service! 

Email: dailynumbers@futuresflight.com

http://www.futuresflight.com/

 

   Tel.1-312-823-9189, 1-702-405-7245

 


Disclaimer:    No guarantee of any kind is implied or possible where projections of future conditions are tempted. Futures trading involve risk.In no event should the content of this be construed as an express or implied promise, guarantee or implication by or from Howard Tyllas, that you will profit or that losses can or will be limited in any manner whatsoever. No such promises, guarantees or implications are given. Past results are no indication of future performance.

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