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 [email protected] or [email protected].
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