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If we can assist your operations with a grain market supply/demand inquiry, please contact:
402.884.0066 x111
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Rain Makes Grain (except Eastern corn-belt)
Without question Chicago futures traders give great weight to Illinois weather conditions. I still can recall during the July's of the 1990's in Chicago when at 12:25 PM (Channel 9) we all were glued watching Tom Schilling's weather report. The same type reflection came to mind last week (June 24) when " tweet notice" was given by University of Illinois ag economist Scott Irwin about recent rain impact on Illinois corn yields. I rank Doc Irwin as one of our leading ag marketing authorities.
Coming off of last month's huge funds short position, Tuesday's unexpected USDA stock statistics along with the decline in eastern corn-belt crop ratings added up to ideal fodder for Tuesday's limit-up corn move. We encourage our readers not to get "bulled up", yet, while we still may have a 160BPA (1.2 billion bu carryout?) for 2015-16. Also note, USDA expectations are we may see almost a million additional acres of harvested milo.
The CFO Systems Corn Crush
The CFO Systems Corn Crush is now $0.61/gallon of ethanol on July 2, 2015.
*Using nearby CBOT corn futures, CBOT ethanol futures, USDA corn oil prices and ethanol industry conversion standards.
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We believe positions are unique to each person's risk bearing ability, marketing strategy and crop conditions, therefore we give no blanket recommendations. The risk of loss in trading commodities can be substantial, therefore carefully consider whether such trading is suitable for you in light of your financial condition. |
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