Commodity Comments: 

10/19/2018

Harvest pressure seems to be the theme of the markets this week.    

December corn lost 7 cents on the week.  Harvest pressure and good yields seem to be the top stories in todays market.  Acres for 2019 are already being looked at and if China doesn't turn into a buyer of beans, the market is leaning towards a 3.5M acre increase for corn.

Harvest pressure and fading hopes of China coming back to the US, has pushed the futures market down 11 cents this week, even after a 24 cent gain on Monday.  USDA had 180 kmt of soybeans to China cancelled along with another 120 to an unknown destination today.  Year to date bean shipments are down 52% and without China as a buyer, it will be tough to gain on that figure going forward. 

Wheat gained a couple of cents to end the week.  Weather concerns in Europe, Ukraine and Russia are starting to put pressure on the market.  Argentina's wheat yields have also been coming shy of expectations as well.

If you ever have any questions regarding the different types of contracts that JVG offers, please give us a call.  We have cash, futures fixed (HTA), Minimum Price, and Basis Fixed available.  Also, if you hear of different kinds of contracts that you may be interested, let us know.   

As always, Thank You for your business. Have a safe Harvest!

 

Tiffany Heier