Closing Comments; Tuesday, February 5th, 2019
MaxYield Cooperative - SETZ - Tue Feb 05, 1:52PM CST

Poor weather has put farmer movement of grain to a standstill. The forecast over the next two weeks does not look ideal for farm-stored grain to be moved. Parts of Wisconsin and into Minnesota are expected to see large amounts of snowfall with areas forecasted to see 15+ inches of snow. Icing is also expected across a large swath of the Corn Belt. This comes at a time where the market is still in a very frustrating range bound pattern. Farmers that have the availability to deliver bushels quickly should be ready for quick ship opportunities that may present themselves.

Trade anticipates staying in a choppy pattern as we look forward to this week’s report numbers. Trade is expecting slight reductions in yield as the main reason for corn ending stocks to tighten up. The latest rounds of soybean buying from the Chinese has definitely added to the feel good story for soybeans, but the fact remains that we are still sitting on a mountain of beans with the calendar running against us.

March corn finished 1 cents higher at $3.80 . March soybeans closed 1 cents higher at $9.20 . March Chicago wheat finished 1 cents higher at $5.27 .

For more information, you may contact Brock Beadle at 515-341-7040, or e-mail at bbeadle@maxyieldgrain.com. The opinions and views expressed in this commentary are solely those of Brock Beadle. Data used in writing this commentary obtained from various sources believed to be accurate. This commentary is intended for informational purposes only and is not intended for developing specific commodity trading strategies. Any and all risk involved with commodity trading should be determined before establishing a futures position.




 

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