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Standard Grain

RSS By: Joe Vaclavik

Joseph Vaclavik is the president at Standard Grain in Chicago. Standard Grain provides futures and options brokerage to farms, feedlots, elevators, processors, end-users and traders. Visit www.standardgrain.com for more information.

 

Down Overnight...

Nov 23, 2011

 

·         Grains sharply lower overnight after closing barely higher yesterday in most contracts; New lows in corn, soybeans and wheat for the recent move
·         Outside markets soft again; Crude, equities, metals all lower with a sharply higher $US
·         Preliminary data showing that China manufacturing fell to lowest levels in 3 years; Concern growing over the slowing of Chinese economy
·         No bidders in China auction of state reserve soybeans; Fifth consecutive week with no bids
·         Weather reports suggest that 30% of Ukraine wheat and rapeseed will not withstand dry winter conditions
·         Spot ethanol profitability remains high, over $1/bushel or about 40 cents per gallon including fixed costs and basis
·         Export Sales delayed until Wednesday due to Thanksgiving Holiday
·         Grains markets trade regular hours today; Closed until Thursday night open at 6pm CST; Early close on Friday 12pm CST

Straits Financial does futures/options business for farms, feedlots, elevators and processors.  Call Joe Vaclavik today at (312) 462-4438! 

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