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Grain Markets Closed Higher

Published on: 16:33PM Apr 25, 2014

May options went off the board today with the markets closing close to near-term highs. Interesting to note November 2014 soybeans opened the week at $12.38 and closed today at $12.39, one could say the market is range bound with the low for the week coming in at $12.08 and the high at $12.435 for a range of $.355. Look for the markets to be mixed next week with rain and cool temperatures in the forecast for much of the Midwest. On Monday we could potentially see 1 to 2 % planting progress on soybeans and a major increase on corn plantings. In our estimation we could see 15 to 20 % done in corn.

November 2014 Soybeans

SOURCE: CME Past performance is not necessarily indicative of future results. Although very reasonable attempt has been made to ensure the accuracy of the information provided, Utterback Marketing Services Inc. assumes no responsibility for any errors or omissions.

 

December 2014 Corn

SOURCE: CME Past performance is not necessarily indicative of future results. Although very reasonable attempt has been made to ensure the accuracy of the information provided, Utterback Marketing Services Inc. assumes no responsibility for any errors or omissions.

 

December corn opened the week at $4.955 and closed today at $5.062 with a $.225 range. Look for exports and crop progress to show trend next week. At these levels one should take advantage and make new sales if none have been made. One should also take this opportunity to roll any puts up closer in-the-money if possible.

If anyone feels they need to put structure into their risk management decision-making and would like to discuss marketing strategies, call Bob or Laura (1-800-832-1488). We will also try to answer questions in upcoming blogs and we welcome emails to laura@utterbackmarketing.com or utterback@utterbackmarketing.com.

 

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