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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 Grains Market Commentary 6/9/09
Jun 09, 2009
SETTLEMENTS 6/09
|
July 09 Corn
|
444
|
+ 9
|
|
Dec 09 Corn
|
466 ¼
|
+ 8 ¼
|
|
July 09 Beans
|
1243 ½
|
+ 11
|
|
Nov 09 Beans
|
1074 ½
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+ 22 ¾
|
|
July 09 Wheat
|
613 ¾
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+ 15 ¾
|
|
July 09 KC Wheat
|
665 ½
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+ 12 ¾
|
|
July 09 Min Wheat
|
743
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+ 24 ¾
|
|
July 09 Meal
|
407.8
|
+ 6.1
|
|
July 09 Oil
|
39.45
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+ 0.05
|
Corn, wheat and soybeans all closed sharply higher. The dollar was sharply lower and the commodities markets rallied in response. Money continues to pour into commodities and on any given day, the amount of buying (or lack there of) is the main driver of price. There is a USDA Supply and Report tomorrow morning. Most people are looking for the USDA to cut ending stocks for corn and soybeans (estimates are below). I will write a more detailed comment tomorrow after we see what the USDA estimates for next year’s Supply and Demand.
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Trading commodity futures and options involves substantial risk of loss and may not be suitable for all investors. 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 E Hedger, its affiliates, officers, directors, employees, or agents. Recipients assume the risk of reliance on and indemnify and hold E Hedger harmless for any and all losses, costs, or tax consequences incurred as a result of their use of market information.
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