As of this writing there is no definite word as to when the USDA will release its December 1 stocks-in-all-positions report as well as winter wheat seeding estimates. The next Supply/Demand report will be February 8! Hopefully, they’ll break the suspense and announce when they will release the stocks, seeding and final production figures!
The US will be dealing with extreme weather the rest of this week and all the traffic problems Mother Nature throws out way. Typically, rail, river and road traffic slows a bit given ice problems, switch freezes and such. It should not help out near term shipping and might put a little more pressure on the spreads. And that will be the focus of the market in the next few weeks as we approach first notice day on the March contracts and the trade banter and basis levels suggest that deliveries could be healthy on corn and beans while wheat, who knows? Basis levels suggest few if any wheat deliveries and the running moving averages in Chicago and Kansas City suggests that storage rates will decrease. Flat price in all grains appear to be close to equilibrium and we’re awaiting fresh news on Chinese trade deals and hedge pressure from South American harvest. It feels as though the trade is on holiday awaiting concrete news!
The information contained on this site is the opinion of the writer and obtained from sources cited within the commentary. The impact on market prices due to seasonal or market cycles and current news events may already be reflected in current market prices.
Join
My Mailing List
Steve Bruce
Walsh Trading
312 985 0156
888 391 7894 toll free
312 256 0109 fax
sbruce@walshtrading.com
www.walshtrading.com
Walsh Trading
53 W Jackson Suite 750
Chicago, Il 60604
Walsh Trading, Inc. is registered as a Guaranteed Introducing Broker with the
Commodity Futures Trading Commission and an NFA Member.
Futures and options trading involves substantial risk and is not suitable for
all investors. Therefore, individuals should carefully consider their financial
condition in deciding whether to trade. Option traders should be aware that the
exercise of a long option will result in a futures position. The valuation of
futures and options may fluctuate, and as a result, clients may lose more than
their original investment. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF
FUTURE RESULTS.
All information, communications, publications, and reports, including this
specific material, used and distributed by Walsh Trading, Inc. (“WTI”) shall be
construed as a solicitation for entering into a derivatives transaction. WTI
does not distribute research reports, employ research analysts, or maintain a
research department as defined in CFTC Regulation 1.71.