SETTLEMENTS 9/15
Corn, beans and wheat were all sharply higher during the session. A frost forecast for the northern Midwest at the end of next week appears to be the main factor behind today's strength. However, the frost forecast was out Sunday night and yet the market waited until today to react. Along with the frost, general commodity strength and technical buying added to today's strength.
At this point the frost forecast is still a long way off. In between now and the end of next week we will have over 20 model runs to watch before we get to the frost. To see what type of damage the weather will actually do, we will have to wait and see exactly how cold the weather gets and how far south the cold temps actually reach. No matter how the forecast comes out what we do know is that prices are over 44 cents off the lows we made last Tuesday. There are lots of producers that are way behind on sales and have grain they have to move in the next 60 days no matter what prices do. We recommend... In addition, those of you that are caught up on 2009 crop should be looking forward at the 2010. Dec 2010 got up to 397 ½ today. With the current input cost and a solid crop, these are levels that should make producers good money next year. Please give us a call to discuss the different strategies.
Get More From EHedger.
Our commentaries are just one part of our whole risk management service. Please go to http://www.ehedger.com/sign-up/ for a free two-week trial of our full member website that gives you access to all our hedge and marketing recommendations, educational tools, market snapshots and much more.
Also learn about our acclaimed AMMO Program that helps producers optimize their marketing strategies using the premier tools and insights in the industry.
Get Organized. Get Ahead. Get EHedger
Trading commodity futures and options involves substantial risk of loss and may not be suitable for all investors. The market information contained in this message has been obtained from sources believed to be reliable, but is not guaranteed as to its accuracy or completeness. Market information may not be consistent with current or future market positions of E Hedger, its affiliates, officers, directors, employees, or agents. Recipients assume the risk of reliance on and indemnify and hold E Hedger harmless for any and all losses, costs, or tax consequences incurred as a result of their use of market information.
