Published on: 15:26PM Dec 31, 2009
|March corn||414 1/2||3/4||412||418.25|
|March wheat||541 1/2||-3 1/4||540||550|
|Jan soybeans||1039 3/4||3 1/2||1032.75||1052.25|
|Feb live cattle||86.175||1.125||85.60||86.70|
|Feb lean hogs||65.600||-0.025||65.50||66.25|
Soybeans and corn closed higher while wheat closed lower. The bean market was strong most of the session but the market sold off going in to the close. Export Sales were strong for both corn and beans today. The volume has been thin all week it should pick up next week but many traders may stay on the sidelines until after the January 12th report. Many people are expecting large allocations of money the first half of Jan. We should see farmer-selling pick up dramatically (especially corn) after the start of 2010 as farmers free up some cash for tax season. Also, many of the allocation people are waiting for may already be priced in the market. For these reasons farmers should make sure they are all caught up on sales. The calls that we bought a couple of weeks ago should give you the confidence to fire off cash sales at these levels and higher. January will be a very important month and the information we receive will help structure our market for 2010. If we continue to see a run-up in prices ahead of these reports, it will be a good idea to have some good sales on the books before this time.
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