Sep 19, 2014
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Current Marketing Thoughts

RSS By: Kevin Van Trump, AgWeb.com

Kevin Van Trump has over 20 years of experience in the grain and livestock industry.

Corn Prices Find Traction in Volatile Markets.....

Mar 03, 2014

Corn could become much more bullish if political problems in Ukraine stifle the movement of gain out of the country.  From what I hear Ukraine still has another 7-8 million metric tons of corn in the pipeline scheduled for export.  The Brazilian corn crop is still being heavily debated, but most in the trade seem to be in agreement that the USDA is close (at least for the time being) with their 70 million metric ton estimate. I have heard several sources projecting the crop anywhere from 75 MMTs to as low as 65 MMTs. From my perspective it is just still too early to provide a more serious and specific guess. Remember, a lot will hinge on the late Brazilian rains this Spring as it has a major impact on their second-crop corn. Here at home there is still no final ruling from the EPA in regards to the ethanol RFS. In fact several sources are thinking it will be another three-months before we hear anything specific. As long as ethanol margins remain strong, as I suspect they will, especially with crude oil prices pushing higher, corn usage estimates should remain at or above the 5.0 billion bushel mark. Livestock margins also remain strong.  Bottom-line, corn is starting to find a bit more traction and is close to breaking through the upper-end of the trading range.  These next few days, as we head into the March 10th USDA report could prove to be pivotal.  CLICK HERE for my daily report... 

 

Corn Trades to 5-Month High: Remember, Ukraine is slated to be the worlds third largest exporter of corn.  With the country turned upside down and "money-flow" starting to once again make a more positive push into commodities, I am   pulling ALL current sell orders and price targets for new crop production.  I am going to remain at 45% sold/hedged until more clear direction can be seen.    CLICK HERE for my daily report....

 

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