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.
The market bounced today on what was viewed as oversold conditions. The crops look good and Monday’s Crops Progress report should show both corn and soybeans fully planted and at least 70% in good condition. I feel there is little reason for a continued move higher in the grains with the near-term weather report showing chances of rain and cooler temperatures throughout the Plains and the Midwest over the next 11-15 day forecast. Without any threat of heat and the continued greenhouse effect, the crops can only grow.
Look to sell on bounces in the market and it is our suggestion to have all marketing decisions made before December corn goes below the $4.50 level and November beans below $12.
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 [email protected] or [email protected].
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