Corn On A Break Today

Published on: 15:02PM Nov 17, 2009
The corn market decided to take a break today, but beans continue to move higher.  The bean complex seems to be anticipating more demand from China, while the corn market is finding no immediate demand strength to push things higher.  I believe the market is reaching levels where producers need to be serious about moving unpriced old crop beans sold off the combine, as well as  focus on 2010 bean sales now that the market is above $10.

WE ARE ACTIVELY TALKING ABOUT THIS IN OUR INTERNET COPY!
 
Outside Markets: I’m very impressed by the T-Notes and subsequent interest rates. It really looks like the Fed will allow an easy money policy for some time. I continue to stress one must watch interest rates as an indicator of how long the concern about growing inflation will continue. I suggest the ability to sell March T-Notes above 120 represents an opportunity that you do not want to pass up. The other commodity that is showing some promise is natural gas. It looks like it is approaching a double bottom in the March contract.
 
Just a peak: The speculative trade that I like, but it is still a little early to implement, is the July/November bean spread. This spread will bear some watching to see if carry gets back into it. A section of our bean copy will be devoted to a review of this spread once a week.
If you need any help in implementing a speculative or hedging strategy give us a call at (800) 832-1488 or email me at [email protected].
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