EHedger Closing Grains Commentary 11/23/09

Published on: 15:52PM Nov 23, 2009
Dec 09 Corn
387 ¼      
- 3 ¾   
Jan 10 Beans
- 4
Dec 09 Wheat
557 ¼      
- 2 ½  
Dec 09 KC Wheat
- 2 ¾ 
Dec 09 Min Wheat
563 ¼     
- ¾  
Dec 09 Meal
- 1.5
Dec 09 Oil
- 0.31


Corn, soybeans and wheat all closed lower on the day. A sharply lower dollar and sharply higher energy and metal markets helped grains rally overnight. We will likely see the markets remain choppy as people lighten up ahead of the holidays. There isn’t much in the way of fresh news out there. Good weather has finally helped corn harvest pick up although still way behind normal. Good rains fell in South America and more rains look to fall in the Midwest over this coming week. The market is now more focused on the U.S. dollar, gold and the stock market. Large sums of money have entered our markets over the past several weeks. As long as this trend continues, it will be hard for our markets break. As I have said many times, it is very hard to know how long or how much money will enter our markets. These large inflows of money continue to give the producer opportunities to lock in prices at profitable levels. Hopefully money will continue to blindly buy commodities and give us the opportunity to lock in more sales at even better levels. We have already made some good sales at these levels. Make sure your sales are up-to-date. Please call if you have any questions.
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