Looks like new crop corn in 2019, 2020, and 2021 are in their “happy place” from 410 to 420. There are calculating experts out there presenting 460 as a breakeven price for corn this year given the lower yield expectations. But, we’ve seen in analog years that great yields happen in years after problematic years with too much moisture …
Today’s Market Day Report
Every day the Market Day Report delivers “live” coverage of agri-business news, weather, and commodity market information from across the world. Scott contributes information on the complete agriculture spectrum with a focus on the option markets. View today’s video
Seven Days in May
Love the movie and it’s pertinent to the tension we are experiencing with the final 50% of corn planting and the start of wheat harvest. Losing corn acres to Mother Nature and the probability of a later corn harvest might make wheat feeding in the Southeast in July/August/September an attractive proposal at present differences. If quality is …
Livestock Report
In another volatile trading session June Lean Hogs opened lower and rallied to the high of the day at 92.80. It wasn’t able to take out yesterday’s high at 92.825 and sellers took over and drove price down hard past support at 90.45 on its way to the low at 89.65. Bulls came back in the market and price …
Grain Spreads: The Edge of Wetness
Massive rains are forecasted to enter into the Midwest growing areas this weekend and through most of next week. The continued rains have given thoughts to continuing planting delays for corn as the last progress report showed only 30 percent planted vs a five year average of 67. Late planting threats we discussed in Mid-April finally have begun to matter …
Before the Deluge
We might be setting the stage for a weather move to the upside as we’ll be looking at rainfall totals and river levels Sunday night and Monday morning. Corn acreage loss from non planting and potential replanting is probable and we’re getting to the point in wheat areas where too much moisture causes more headaches than help. Funds are …
Today’s Market Day Report
Every day the Market Day Report delivers “live” coverage of agri-business news, weather, and commodity market information from across the world. Scott contributes information on the complete agriculture spectrum with a focus on the option markets. View today’s video
Livestock Report
June Lean Hogs grinded higher today, besting resistance at 90.45 and then the May 7th high (91.35) was taken out on its way to 92.00 the session high. It settled at 91.825 below resistance at 92.375. It is the highest close since May 3rd as it closed the gap from the low (91.975) on that day to the May 7th …
Undercurrent of Weather
Let’s just say that the producer will be more than happy if nearby corn returns to $4, nearby wheat in Chicago and Kansas City to $5 and nearby beans to $9. We’ve taken off the bearish edge with this week’s short covering rally as funds got a little too cocky and pressed everything below the cost of production well …
Livestock Report
June Lean Hogs held support and a strong recovery led to a rally to 90.175, just below resistance at 90.45. It is now in the upper section of May 7th trading range which is where Hogs have been trading in for the past 5 sessions. The range is 91.35 high to 85.375 low. If price can take out the 90.45 …