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Market Analysis



Collecting on the carry

Beans On a positive note, beans rallied early last week due to palm oil prices increasing to highs not seen in several years. This increased demand for soy oil as a substitute in some Asian markets. On the flip side, the USDA report published last week was bearish. National yield …

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Report bearish for corn and soybeans

The report was bearish for corn and soybeans with production and ending stocks higher than expected. Before the report corn was down 3 cents, soybeans up 2 cents, and wheat was unchanged. At 12:20 pm corn was down 11 cents, soybeans down 20 cents, while wheat was down 8 cents. …

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Soybean prices not falling out of bed

This past year the U.S. had 94.5 million acres of corn. U.S. soybeans reached 83.7 million acres. This compares to 2015 when the U.S. corn was 88 million acres while soybeans were 82.7 million acres. As we look ahead to 2017, early ideas suggest soybean acres will increase at the …

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Do not give your storage away

Soybeans Beans surprised everyone last week by rallying over $10. If exports remain strong, bean prices may stay at these levels. However, Gulf basis levels (export values) are at 10-year lows, these low basis levels often are an indicator that futures prices are too high longer term. Eyes are on …

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A look at market carry and spreads

Early last week the market was positive, but it turned negative at the end. Right now corn seems range bound from $3.30 to $3.50. Slow harvest progress has helped keep prices from testing the lows. This week however looks to be a wide open window for harvest to move forward …

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When will we see the harvest lows?

Corn and soybean harvest is in progress for Ohio and the Midwest. September’s many dry days along with temperatures in the 80s and above greatly aided corn harvest for producers. Those warm, dry days reduced corn moisture significantly after Sept. 15. Numerous reports indicated it had dropped five points or …

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Trade on likelihood not hope

Have we hit the market low? Many wonder if the market low has passed because markets frequently rally going into October. I’m not sure for several reasons. There are hints that China may start exporting some corn for the first time in 10 years. Harvest is starting slower than usual. …

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