Commodities closed mixed with fears of global slowing and weak demand.
If someone would have asked if the Dow was going to be below 16,000 in January 2016, I would have not imagined. Global economies are slowing and we are definitely in a transitioning period where demand may continue to stay weak with everyone having sufficient corn and soybean supply. Add to this continued U.S. Dollar strength, implying it will be difficult for grains to bounce.
Not unless a weather event or strength in global economic growth is seen, it may be difficult to see more than a 20 to 30 cent bounce in corn or beans. The idea of getting back to good profitable levels may seem difficult right the moment.
Normally selling your corn or soybean crop during the seasonal April through July time period has given the producer prices that have been near or at contract highs. This year it may be difficult if continued demand weakness is seen.
Producers who do not have any 2016 soybean production sold, might sell a portion on any bounce prior to the South American harvest and then defend if a weather event is seen. If you have questions and would like to discuss 2016 marketing strategies, call Bob or Laura (1-800-832-1488). If you have questions, we welcome emails to [email protected] or [email protected].
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