Fccoop

MARKET COMMENTARY

weekly grain TP's

Wednesday, November 12, 2014, 10:11 AM
Submitted by: Jon Setterdahl


  • MONTHLY USDA SUPPLY/DEMAND REPORT WAS OUT MONDAY.  SURPRISED SOME BY LOWERING NATIONAL CORN YIELD A LITTLE.         CORN PRODUCTION AT 14.407BLN ON YIELD 173.4BPA.  CARRYOUT 2.008BLN.  IOWA CORN YIELD LOWERED 2 TO 183, STATES EAST OF THE RIVER MOSTLY UNCHANGED.  SOYBEAN PRODUCTION 3.958BLN ON YIELD 47.5BPA.  CARRYOUT 450MLN.  IOWA BEAN YIELD RAISED 1 TO 52.

 

  • PRICE RALLY HAS CONTINUED DUE TO FUND/SPEC BUYING.  SOME FOLKS ARE WAY OUT OF POSITION ON SBMEAL AND THIS IS SQUEEZING THINGS HIGHER.  AT THIS PACE, THE SPECS WILL OWN THE ENTIRE CORN AND BEAN CARROUTS BY JAN 1….THINK ABOUT THAT ONE.

 

  • RAIL PERFORMANCE IN THE WEST REMAINS PRETTY GOOD AS THE CROP IS GETTING PUT AWAY…..EASTERN CARRIERS FALLING FURTHER BEHIND.

 

  • PRODUCER SELLING HAS INCREASED THE PAST WEEK…..GOOD IDEA TO REWARD THIS RALLY WITH SOME SALES.

 

  • NEW CROP ’15 AND JAN-MAR ’16 CASH CORN BIDS APPROACHING $4.00

 

  • WINTER HAS ARRIVED, WITH SOME AREAS STILL DEALING WITH 20% OF THE CORN YET TO HARVEST.

 

 

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