Monthly archive for November 2017

COMMENTARY 11/30/17

CORN UP 2 Bouncy.  Export Sales  were low at 23.6 vs expectations of  28 -43 mill bu.  We really need to seem some demand show up.  Producer movement is light due to the low cash price.  The bean corn ratio dropped again today in SH/CH.  This encourages bean […]

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COMMENTARY 11/29/17

CORN UP 3 A little strength on short with a drier Argentina forecast. The first 35% of Argentina’s corn will soon be pollinating  Dec/Jan.  If dry conditions continue or worsen into LH Dec, we could see some pollination issues.  Certainly something that bears watching!  <- Hey!  THERE is a justifiable bullish item.  On the […]

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COMMENTARY 11/27/17

CORN DOWN 2 Demand is quiet as the BIG crop is all but put away.  Next support is down at 3.28 1/2 in the Dec Fut.  Cumulative US exports are only 285 mill bu according to AMS, that’s 210 mill behind or 42% less. The USDA forecast is looking for 16% or 368 mill bu […]

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COMMENTARY 11/27/17

CORN DOWN 4 Weak after the holiday weekend!  Monday’s Export Inspections were 25.1 mill bu vs expectations of 22-30 and 41 needed per week. Harvest this afternoon is all but done.  Progress showed harvest up another 5% from last year to 95% complete! However, WI (81%) and OH (87%) are still 10% behind normal. Our saying, anyone who wasn’t done […]

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COMMENTARY 11/22/17

CORN UNCHANGED Corn was a very typical pre holiday market.  Basis  continues to strengthen and with no rain in the forecast there shouldn’t be anyone up N with a good excuse for not being done.  Export Sales out Fri are expected to be 35 – 51 mill  bu.   […]

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COMMENTARY 11/21/17

CORN UNCHANGED Choppy and seeking news.  The managed monies are short and scrambling as first notice day approaches. Barge freight was weaker again today as harvest wraps up in the N and shippers are covered for the rest of the week. The USDA will release their 10 year Supply/Demand Price Forecast next […]

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COMMENTARY 11/20/17

CORN UP 2 Relatively quiet with the large specs with a record short. The large specs are short and need to buy in order to take profits, while the producer is long physical cash and needs to sell to let these funds out. It’s a stand off. There are a few concerns […]

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COMMENTARY 11/17/17

CORN UP 6 We are back up to the LOW end of the range we had been in before the last report on 11/9.  Stronger on rumors of China buying as much as 650KT (25 mill bu) of Feb/May corn from the PNW.  Some suggest there is a 40c/bu […]

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COMMENTARY 11/16/17

CORN DOWN 2 Harvest is a little closer to wrap up, but we ground a little lower, making  new contract lows again today.  Funds sold another 8,500 contracts.  The forecast for the weekend looks damp again for the E Corn belt.  Export Sales this am were below thoughts at […]

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COMMENTARY 11/15/17

CORN UP 1 Quiet. Funds buying some 3,000 contracts helped support from the last two days’ drops. Thursday’s Export Sales are expected to range between 47 – 67 mill bu.   BEANS UP 8 A little reprieve from the last couple of days!  The NOPA crush est […]

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