Grain News – Holidays Almost Here
With the holidays almost here, do you have your offers in for old crop and new crop? Call any one of us about setting up a grain marketing plan. Look out to Spring of 2020, there are some good numbers for corn available now. If you are making money at those levels sell some and offer some at a higher price.
Soybeans are all over the place. You need to have offers in to take advantage the quick swings, we have seen in the last week. Export numbers are disappointing due to the lack luster buying from China. At 8 a.m., the USDA announced the sales of 1.13 million metric tons of soybeans to China. The market was looking for a larger number.
Corn continues to do little but trade a bit each way. Continue to work offers and figure out your break-even number for old and new crop.
Wheat traded the highest since September. Russia’s ag ministry will again meet with grain exporters on Dec 21 according to reports to discuss grain exports and the market outlook. Traders fear the Russian government will take steps to limit wheat exports going forward. The Buenos Aires Grains Exchange
cut their Argentine wheat estimate to 19.0 mmt from a previous estimate of 19.2 mmt due to frost and hail; 57% of their wheat has been harvested. Look for wheat to continue to change with news coming from the World market.
Keep an eye on our upcoming winter marketing meeting dates. Have a great holiday season and enjoy the family time.