The following commentary does not necessarily reflect the views of AgWeb or Farm Journal Media. The opinions expressed below are the author's own.
Grain TV is a daily recap after the market close, providing opinions on fundamental analysis of market direction, influences and expectations. This daily program is produced by Grain Hedge, a discount brokerage firm that provides farmers and elevators with agricultural intelligence including live market quotes, cash bid data, the Grain Hedge Optimizer™ and mobile trading platforms, all for $7 commission per side. Grain Hedge provides tools to allow farmers the ability to trade when the markets move without having to wait for a broker and the information to execute a marketing strategy with confidence.
We just got the January WASDE report and at the moment see corn and wheat moving higher as beans trade lower. Corn ending stock fell 45 million bushels largely driven by a 300 million bushel increase to feed/residual. Soybeans ending stocks were raised 5 million bushels, roughly in line with trade expectations. One thing to note is that crushings were raised while the USDA left export sales unchanged once again. Wheat ending stocks were off 38 million bushels due to feed and residual getting raised by 35 million bushels. Tune in to the audio commentary for the full breakdown of the numbers, and tune in to GrainTV this afternoon for our take on how this changes the grain market.
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