Announcements
1-17-20   Market rumor has Corn futures fully retrace Thursday's losses. Catalyst is rumors of China buying several cargoes of corn to be shipped out of the PacificNorthWest and sorghum via the Texas Gulf
 




 

Futures
@C - CORN - CBOT
Month Last Change Open High Low Close Time More
Mar 20 389'4 13'6 377'0 389'4 376'6 389'2s 01/17 Chart for @C0H Options for @C0H
May 20 395'2 12'6 383'6 395'6 383'6 395'2s 01/17 Chart for @C0K Options for @C0K
Dec 20 402'2 8'6 395'4 403'0 395'4 402'6s 01/17 Chart for @C0Z Options for @C0Z
@S - SOYBEANS - CBOT
Month Last Change Open High Low Close Time More
Mar 20 929'2 5'6 924'4 933'4 920'0 929'6s 01/17 Chart for @S0H Options for @S0H
May 20 942'0 5'6 938'0 946'4 933'0 943'0s 01/17 Chart for @S0K Options for @S0K
Nov 20 960'0 4'2 956'0 964'0 953'4 960'4s 01/17 Chart for @S0X Options for @S0X
@W - WHEAT - CBOT
Month Last Change Open High Low Close Time More
Mar 20 571'0 5'2 565'4 572'4 564'2 570'4s 01/17 Chart for @W0H Options for @W0H
Jul 20 570'6 3'6 567'0 573'2 566'2 570'4s 01/17 Chart for @W0N Options for @W0N
@YM - E-MINI DOW JONES $5 - CBOT
Month Last Change Open High Low Close Time More
Mar 20 29272.00 39.00 29245.00 29362.00 29242.00 29279.00s 01/17 Chart for @YM0H Options for @YM0H
My Custom Markets
Symbol Last Change Open High Low Close Time More

Closing Market Comments

1-17-20


CORN

Corn closed 12-14 cents higher in the nearby contracts and 8-9 cents higher in the deferred contracts. For the week CH gained 3 cents. Funds were probably as heavy buyers today as they were sellers yesterday and held an estimated short position of 116,000 contracts as the day started. Funds holding short positions are balanced between ample world stocks, a large S. American crop on the way, and what happens if China does indeed become an active buyer of U.S. corn? It was an interesting week as the trade tries to decipher expectations now that the U.S. and China have signed Phase 1. It wasn’t expected that they’d buy corn but somehow a surprise yesterday that they didn’t. Today, 2-4 cargoes of corn were reportedly sold off the PNW to China but there is also talk that they are destined for S. Korea or Japan. Also, the EU is questioning the U.S./China trade deal and WTO trade rules. On and on it goes.


BEANS

 Soybeans closed 6 cents firmer today on a rebound from yesterday. Funds were on the sidelines for the most part today and held an estimated short position of 19,000 contracts this morning. SH lost 16 cents this week. No big Chinese purchases and no large weather concerns in S. America weigh on futures. China must balance buying U.S. beans to honor trade agreements with buying S. American beans at cheaper values in the soon to ramp up harvest. China starts their Lunar New Year celebration on the 25th, so if they don’t buy U.S. beans next week, we may not see much activity until that ends. (You’ve probably noticed various market articles over the past few weeks regarding China releasing frozen pork reserves for the holiday period.) Generally, over the next two weeks, northern Brazil expecting above normal precip, southern Brazil a bit dry as is southern Argentina, with northern Argentina expecting above normal precip.



 

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