2/18/20 7:45am
The first of two Index/Member meeting today at 10:30am at The Ridge. Second Meeting is March 3rd, so if not able to make today's meeting make sure to RSVP for the March 3rd meeting.
Last week saw corn give up 5 ¾¢ with soybeans gaining 11 ¾¡. Markets started the current week under modest pressure but quickly recovered trade higher.
Overnight strength in response to reports China will offer tariff exemptions on 696 US trade goods including Ags. Application process
then approval process? Timeline unsure?
Brazil soybean harvest reported near 21% with solid yields reported. Another private group in Brazil has raised their production estimate to 125.6 mmt. Calendar and weather there suggest seasonal production anxiety over. Still time for Argentina problem to unfold but weekend rains and forecast for more next week has that door closing as well.
Updated with Friday’s CFTC data, we show Funds net short 81K corn and 83K soybeans. Both numbers very near trade ideas.
China’s overall Coronavirus virus totals show 70,548 confirmed cases, and 1,770 deaths.
Index Pricing takes all the emotions out of selling some of your corn. Looking at the 20 year chart at the bottom of this brochure shows you when you should be looking at pricing corn year in year out. Simply commit a percentage of your potential bushels into the Index and let the seasonal market work for you..
