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Walsh Trading: Afternoon Grain Comments

RSS By: Andy Kopale, AgWeb.com

Andy is a seasoned grain market analyst and the senior account executive at Walsh Hedging. His main focus is assisting producers and end users to better hedge their investments through his various market strategies over his years of experience working on the grain floor.

Walsh Commercial Hedging 3/27/12

Mar 27, 2012

Good afternoon.  The grain complex had a choppy two sided trade for most of the day but a late day selloff in wheat caused corn to drop too.  May soybeans opened 5 ¼ cents higher but the inability to take out yesterday’s highs plus talk of the overbought condition of the market helped spark some long liquidation.  May beans finished down 9 ¾ at 1369 ¾.  New crop November beans was down 1 ¾ at 1327 ¾.  The big loser of the day was May wheat which finished down 19 ¾ at 639 3/4 and gave back most of the gains from the last three trading sessions.  The light weather concerns with dryness in Europe and the cold weather concerns for the US crop has helped support wheat the past couple sessions but the sellers came back into the market with the improving crop conditions and ideas that global supply looks more sufficient for the coming season.  May corn opened higher but continued fund liquidation from yesterday coupled with the weakness in wheat helped May corn finish down 7 at 630 ¾.  New crop December corn was down 3 at 550 ¼.  May corn is down more than 25 cents from Monday’s highs.  December corn had its lowest close since January 18th.  All in all, I expect more of this choppy two sided trading as positioning continues until the key reports on Friday. 

Give us a call to hear what we’re doing to help protect our producers at 800.993.5449 or email me at tmarcucci@walshtrading.com.

Walsh Commercial

 

 

 

Futures and options trading involves substantial risk. The valuation of futures and options may fluctuate, and, as a result, clients may lose more than their original investment. In no event should the content of this letter be construed as an express or an implied promise, guarantee, or implication by or from Walsh Trading Inc. that you will profit or that losses can or will be limited in any manner whatsoever. Past results are no indication of future performance. Information provided in this correspondence is intended solely for informative purposes and is obtained from sources believed to be reliable. Information is in no way guaranteed. No guarantee of any kind is implied or possible where projections of future conditions are attempted. The risk of loss in trading commodities can be substantial. You should carefully consider whether such trading is suitable for you in light of your personal circumstances and financial resources. Only risk capital should be used.

 

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