Free DP: Soybeans Only, Off Farm Delivery. DP Free Through August 15th, Rates after that are TBD.
April 20, 2015
Corn futures finished the day quietly lower with not much in the way of fresh news. The stronger U.S. Dollar Index and a drier weather forecast for this week seemed keep a little bit of selling pressure on corn for the duration of the session. Soybeans closed with modest gains of 8 cents on old crop and 5 cents on new crop. Support was noted to be coming from some short covering along with some talks that China may have been doing some bean pricing. Also in the news today was rumors of a possible trucker strike in Brazil. This afternoon’s weekly crop progress report showed U.S. corn to be 9% planted, compared to 2% last week, 6% last year, and 13% for the 5 year average. Illinois alone came in at 15% planted vs. 0% last week and 21% on the 5 years average. Commodity funds ended the day being net sellers of 3,000 corn contracts and buyers of 5,000 bean contracts and 3,000 wheat contracts. Outside of the grain markets, the Dow was 173 points higher, Crude Oil was up 51 cents, and the U.S. Dollar Index was hold near 400 points in gains.
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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