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RSS By: Bob Utterback, Farm Journal

Bob Utterback has more than 26 years of experience and offers producers a disciplined approach to marketing.

Market Recap!

Apr 04, 2014

After receiving the planting intention and grain stocks figures on Monday, one would have thought by Friday we would have seen more direction to this market and yet I sense more uneasiness from people calling in than I did before the report and the bottom line is it all comes down to weather.

USDA said on Monday that corn acres would be at 91.691 million acres and ending stocks at 7.006, both reports were considered bullish with the market passing through upside objectives and making a high of $5.082 on Tuesday, April 1. For the rest of the week the market was mixed and could not surpass Tuesday’s high on bullish news and concerns regarding weather as well. This time last year many of you were already in the field.

Throughout much of the Midwest rains are expected every couple of days and ground temperatures are still too cold. Now the way it looks many will not be able to do any form of fieldwork for the next two weeks. So why is corn flat to range bound? It is still too early and corn can still be planted within the optimum time period for good yields.

Soybeans on the other hand saw bearish numbers and November soybeans went above $12 this week. Planting intentions came in at 81.49 million acres, higher than trade expectations, weather is seen as being bearish to soybeans and stocks were not as tight as anticipated coming in at 992 million bushels.

So what does all of this mean? For those of you who have not made any production sales, an opportunity to do so above $5 may be available here in the next 30 days and for others it is a time of reflection to make any changes in your marketing plan if needed. One must also look at ahead at the 2015 production and look for opportunities to hedge future production at levels above input costs.

If anyone feels they need to put structure into their risk management decision-making and would like to discuss marketing strategies, call Bob or Laura (1-800-832-1488). We will also try to answer questions in upcoming blogs and we welcome emails to laura@utterbackmarketing.com or utterback@utterbackmarketing.com.

 

THIS MATERIAL HAS BEEN PREPARED BY A SALES OR TRADING EMPLOYEE OR AGENT OF UTTERBACK MARKETING SERVICES, INC. AND IS, OR IS IN THE NATURE OF A SOLICITATION. THIS MATERIAL IS NOT A RESEARCH REPORT PREPARED BY UTTERBACK MARKETING SERVICES, INC. BY ACCEPTING THIS COMMUNICATION, YOU AGREE THAT YOU ARE AN EXPERIENCED USER OF THE FUTURES MARKETS, CAPABLE OF MAKING INDEPENDENT TRADING DECISIONS, AND AGREE THAT YOU ARE NOT, AND WILL NOT, RELY SOLELY ON THIS COMMUNICATION IN MAKING TRADING DECISIONS.

DISTRIBUTION IN SOME JURISDICTIONS MAY BE PROHIBITED OR RESTRICTED BY LAW. PERSONS IN POSSESSION OF THIS COMMUNICATION INDIRECTLY SHOULD INFORM THEMSELVES ABOUT AND OBSERVE ANY SUCH PROHIBITION OR RESTRICTIONS. TO THE EXTENT THAT YOU HAVE RECEIVED THIS COMMUNICATION INDIRECTLY AND SOLICITATIONS ARE PROHIBITED IN YOUR JURISDICTION WITHOUT REGISTRATION, THE MARKET COMMENTARY IN THIS COMMUNICATION SHOULD NOT BE CONSIDERED A SOLICITATION.

THE RISK OF LOSS IN TRADING FUTURES AND/OR OPTIONS IS SUBSTANTIAL AND EACH INVESTOR AND/OR TRADER MUST CONSIDER WHETHER THIS IS A SUITABLE INVESTMENT. PAST PERFORMANCE, WHETHER ACTUAL OR INDICATED BY SIMULATED HISTORICAL TESTS OF STRATEGIES, IS NOT INDICATIVE OF FUTURE RESULTS. TRADING ADVICE IS BASED ON INFORMATION TAKEN FROM TRADES AND STATISTICAL SERVICES AND OTHER SOURCES THAT UTTERBACK MARKETING SERVICES, INC. BELIEVES ARE RELIABLE. WE DO NOT GUARANTEE THAT SUCH INFORMATION IS ACCURATE OR COMPLETE AND IT SHOULD NOT BE RELIED UPON AS SUCH. TRADING ADVICE REFLECTS OUR GOOD FAITH JUDGMENT AT A SPECIFIC TIME AND IS SUBJECT TO CHANGE WITHOUT NOTICE. THERE IS NO GUARANTEE THAT THE ADVICE WE GIVE WILL RESULT IN PROFITABLE TRADES.

 

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