By Jon Scheve, Superior Feed Ingredients, LLC
The biggest news of last week was when Agriculture Secretary Perdue announced that China agreed to buy 10 million metric tons (about 400 million bushels) of beans Friday afternoon from the Oval office after the markets closed. Earlier in the week President Trump said China would also buy more corn too. While both statements seem positive, the market has already heard rumors and predictions before, only to be let down by smaller numbers due to a variety of reasons. It will take follow through and actual purchases to get the market excited.
March corn closed again for the 13th straight Friday within the tight trading range of $3.74 to $3.85.
With corn trading within a very tight range the last 3 months, including straddle trades in my grain marketing plan was a good decision for my farm operation. Since late November, I placed three straddle trades that all expired on Friday that helped me generate 13.5 cents of profit on 30% of my corn production.… Continue readingRead More »