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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 Closing Grains Commentary 9/15/09

Sep 15, 2009
 
SETTLEMENTS 9/15
         
 
Dec 09 Corn
346 ½   
+ 28 ¾
Nov 09 Beans
960
+ 51 
Dec 09 Wheat
470 ½
+ 16 ½
Dec 09 KC Wheat
482 ¼
+ 14 ¾ 
Dec 09 Min Wheat
498  
+ 13 ¼  
Dec 09 Meal
298.3
+ 19.5
Dec 09 Oil
34.82
+ 1.03
 
 
 
 
 
 
 
 
 




 
Corn, beans and wheat were all sharply higher during the session. A frost forecast for the northern Midwest at the end of next week appears to be the main factor behind today’s strength. However, the frost forecast was out Sunday night and yet the market waited until today to react. Along with the frost, general commodity strength and technical buying added to today’s strength.

              At this point the frost forecast is still a long way off. In between now and the end of next week we will have over 20 model runs to watch before we get to the frost. To see what type of damage the weather will actually do, we will have to wait and see exactly how cold the weather gets and how far south the cold temps actually reach. No matter how the forecast comes out what we do know is that prices are over 44 cents off the lows we made last Tuesday. There are lots of producers that are way behind on sales and have grain they have to move in the next 60 days no matter what prices do. We recommend... In addition, those of you that are caught up on 2009 crop should be looking forward at the 2010. Dec 2010 got up to 397 ½ today. With the current input cost and a solid crop, these are levels that should make producers good money next year. Please give us a call to discuss the different strategies.  
 
 
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COMMENTS (18 Comments)

Anonymous
The problem is that when you bought your inputs that made your break-even prices so high, corn was much higher. So, the market gave you the opportunity to buy high inputs and still lock in $5 and higher corn prices. The market doesn't wait around and make sure that everyone makes money.
1:55 PM Sep 16th
 
Anonymous
The problem is that when you bought your inputs that made your break-even prices so high, corn was much higher. So, the market gave you the opportunity to buy high inputs and still lock in $5 and higher corn prices. The market doesn't wait around and make sure that everyone makes money.
1:38 PM Sep 16th
 

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