Starting January 5th, 2016 – For both corn and soybeans delivered from off the farm storage, we will be offering 30 day Free Open Storage and then Free Price Later following those 30 days until August 15th, 2016; rates after that will depend on market conditions.
February 5, 2016
Corn futures wrapped up the day 2 ¾ cent lower on old crop and down 2 cents on new crop after trading in about a 4 cent range through the session. Funds were active sellers once again which weighed on prices along with a firmer dollar and weakness in both the energies and equities. Corn struggled to find much positive news through the week and ended up giving back around 6 cents since last Friday; cash corn basis was also a little softer dropping around 3 cents. Soybeans were on the defensive today as well as outside markets held prices down along with the lack of anything in the way of fresh export news. Weather forecasts in Brazil continue to be conducive for bean harvest to roll along and moisture levels are expected to get better for Argentina. The wheat market finished the day 6 cents lower, being followers of both corn and wheat and also finding pressure from comfortable global supplies and active selling by both Black Sea region and European producers. For the week beans gave back 13 to 14 cents on old crop months while cash basis stayed steady. Funds closed out the day being estimated net sellers of 8,000 contracts of corn, 7,000 contracts of beans, and 9,000 contracts of wheat. Outside of the commodity markets the U.S. Dollar Index was 400 points firmer while the Dow dropped 211 points and Crude Oil gave back 72 cents putting it at $31.00/bbl.
This data and these comments are provided for information purposes only and are not intended to be used for specific trading strategies. Although all information is believed to be reliable, we cannot guarantee its accuracy or completeness. The risk of loss in trading futures and/or options is substantial. Each investor must consider whether this is a suitable investment. When trading futures and/or options, it is possible to lose more than the full value of your account.
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