October 29, 2014
Producer Marketing Manager
With the recent price jumps, do you have your Target Orders placed and working to capture your desired price?
CORN: As of 7:45 – UP 3
Yesterday’s early gains were all but erased by the close of trade. Mostly led by the early rise and subsequent fall of the soybean meal futures. DDGS values on the rise and also improving ethanol margins. Watching our August highs at $3.81…..
SOYBEANS: As of 7:45 – UP 6
As mentioned above…..as meal goes, so goes soybeans. Safras saying Brazil is a little behind on soybean planting at 13% complete vs 31% average. Will this delay allow more US exports in Feb/March??? Below are some retracement levels and areas we are watching now that we have traded thru $10 futures…….
WHEAT: As of 7:45 – MPLS UP 3, KC UP 2
Despite what the soy and corn pits did, wheat values actually held their early gains yesterday and finished the day 8 cents higher. Chatter about production elsewhere in the world……Australia production coming in lower than USDA, Russian plantings and cool weather limiting acreage, Argentina freeze potential.