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Corn and Soybean Markets were flat this week.

Published on: 20:11PM Feb 19, 2016

Corn and Soybean Markets were flat this week.

 

Both the corn and soybean markets were flat this week with November Soybeans opening the first of the week $8.874 and closing today at $8.884. With sufficient supply and a large South American crop there is no reason for this market to bounce higher   Speculation is growing that we may see a wet spring planting season. If this were the case, it would give the producer an opportunity to make cash sales. It is our understanding that many producers are hoping for a big bounce but the most one can anticipate is a 40 cent move in soybeans. It would take a major disaster to move above resistance at $9.26. Look to sell on any bounce between now and end of April. If no weather event is seen, there is the potential to see a 7 instead of an 8 in front of the soybean price.

 

One way to add revenue is looking at the July/November soybean spread. 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 laura@utterbackmarketing.com or utterback@utterbackmarketing.com.

 

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