I think it’s time to consider we sell a few put spreads either in July 2020 Beans or Sep/Dec 2020 Corn. These take in sizable credits and can be used to finance puts for in the next 90 to 120 days. July 2020 Soybeans Sell the 10.00/11.00 July 20 put Spreads at 88 to 90 cents into the report collecting …
Position Squaring
The 6 to 10 day is warmer and wetter than normal for the Heartland and this is good for maturity of the corn and bean crops and moisture is not impeding harvest, yet! We’re still a couple of weeks away from the fly free date and soft red wheat seed sales are reported to be a little higher in the …
Regroup
The NWS says warmer and wetter than normal in the Heartland in its last 6 to 10 day forecast. A very positive outlook for crop development as we may gain a little more time for this growing season. And moisture is welcome at this time! A month from now we’ll have a better handle on yields as Mother Nature is …
ag thoughts
The markets revert to mean on a regular basis. In my opinion. This makes protracted trends difficult The oil share is approx 32-32.5%. It is my thought that the market could move to 35.7% The current fundamental outlook calls for more bio fuel use. More vegoil imports into China. This while competing proteins are displacing meal. Not to mention the …
Down the Rabbit Hole
Soft red wheat appears to be the new golden child in grains. We’ve got Chicago 76 cents over Kansa City in the December contracts, 55 cents over in the July 2020 contract and 30 cents over in the July 2021 contract. Historically, this is unusual and we have to ask the question of whether lower protein wheat which traditionally has …
Livestock Report
The October Lean Hogs contract rallied past resistance at 67.80 to the session high at 68.00. It couldn’t sustain the rally and broke down and traded to the session low at 65.925. It settled near the low at 66.30. The October contract was the weakest contract in the Hog arena as deferred months settled higher on the day. A …
Grain Spreads: Corn Outlook
Remember when corn was 4.68? It was the high the last day of June made just after the quarterly stocks report prior to the acres release. The USDA came out and said we actually planted more acres than last year and as a result 4.68 was your seasonal top. that level represented a 20 percent move higher for the calendar …
Getting Lucky?
The most recent 6 to 10 day forecast calls for generally warmer and wetter for the Heartland. Hopefully, we get an extended growing season and allow for corn and beans to mature. Get the bushels first and then get the demand! Field reports are still promising for corn in the South and Mid South and hopefully Dorian stays East and …
Livestock Report
The October Lean Hogs contract spent the session bouncing above and below the 66.55 resistance level before settling above it at 67.125. A rally from settlement could see price test resistance at 67.80 and then 69.80. A failure from settlement could see price fall back within Tuesday’s range. The Lean Hog index continued it fall and is at 67.97 as …
Grain Spreads: Two Sided
Its been a choppy ride in the soy complex with Nov 19 Beans finding support between 860/855, while resistance comes in at 880/883. Prices cant find much conviction to crash through support or aggressively take out resistance. At least for today beans saw some friendly demand news enter into the market. Export sales of 451,766 metric tons of soybeans for …