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EHedger Report

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 Afternoon Grain Commentary 9/6/12

Sep 06, 2012

Grains closed mixed after trading both sides of the market Thursday.  December corn finished 7 ¾ cents higher at $7.98 ½.  November soybeans closed a ½ cent lower at $17.47 after trading as low as $17.26 overnight.  December wheat held onto its sharp rally closing 24 cents higher at $8.91 ¾.

 

Volume was relatively low especially for December corn.  Corn open interest has been declining and December corn has been stuck in a range for the past 6 weeks.

December Corn

 

Soybeans remained weak for the majority of the trading session which may be a result of the "bearish" FC Stone soybean production estimate yesterday.  As you can see by the chart below, the lows of the session were made during the first few hours of the night session, immediately following their production estimate announcements.

November Soybeans

 

The EIA Weekly Report showed ethanol stocks and ethanol production marginally higher.  Crude oil stocks were down more than expected but the early gains in crude weren’t held throughout the day.  Outside markets were overall supportive with equity index futures leading the way.  The S&P 500 reached highs today not seen since January 2008!  The US Dollar Index remains low in anticipation of another round of Quantitative Easing expected on the next FOMC report one week from today.

 

Please contact EHedger at 866-433-4371 if you would like to try our proprietary farm management software called AMMO.  To learn more please visit www.ammoag.com.

 

www.ehedger.com/signup 

 

Best Regards, 

EHedger 

866-433-4371

www.EHedger.com 

Trading commodity futures and options involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge and financial resources. 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 EHedger LLC, its affiliates, officers, directors, employees or agents.

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