Edwards Market Thoughts

12/13/18 8:00am                               FREE PRICE LATER IS AVAILABLE AT SIOUXLAND ENERGY

 

Weekly export sales....neutral.  Everyone wait for the 8 a.m. announcements.

Soybean market was a expecting a Chinese purchase closer to 5,000,000 MT’s (rather than 500,000 MT’s).  Traders will continue to watch for additional sales for soybean futures to push prices through strong nearby resistance levels.  It would have been nice to see yesterday’s market at least 20-30 cents higher on this news, but we didn’t get it.

The U.S. House & Senate overwhelmingly passed the latest farm bill.  Now it will be submitted to President Trump for him to sign into law without tightening the criteria to receive food stamps.  More than 40 million Americans (12% of the U.S. population) depend on the SNAP food stamps program each year.

Since November 1st when we first considered the developing chart formation in soybeans, SH19 beans have rallied near 83 cents. 

 

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Sioux Center, Iowa (51250)

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Siouxland Cash Bids
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Quotes retrieved on December 13, 2018, 09:11:15 AM CST
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Corn Receiving Alert

                                                                Free Price Later

Siouxland will be offering "Free Price Later" delivery starting Monday December 3rd! This room will be based on first come first serve, if space starts getting filled up we may need to slow deliveries. If you have any questions please give Tom E a call 722-3906.

 

 

Commentary
Lean Hogs Market News and Commentary -

Lean Hog futures were steady to 50 cents higher in most contracts on Wednesday. The CME Lean Hog Index was down 14 cents from the previous day @

Corn Market News and Commentary -

Corn futures are fractionally higher ahead of the weekly Export Sales report. Most contracts closed steady to 1 1/4 cents higher on Wednesday.

Cotton Market News and Commentary -

Cotton futures are trading 9 to 19 points lower ahead of the weekly Export Sales report. They were 5 to 25 points lower in the front months at

Ag Market Commentary -

Corn futures are fractionally higher ahead of the weekly Export Sales report. Most contracts closed steady to 1 1/4 cents higher on Wednesday.

Soybeans Market News and Commentary -

Soybean futures are trading 1 to 2 cents lower this morning. They ended the Wednesday session with most contracts 4 to 5 cents higher. Nearby soy

Wheat Market News and Commentary -

Wheat futures are mostly 1 to 5 cents higher this morning, with KC HRW the strongest. They closed Wednesday with gains of 5 to 8 cents in most front

Full commentary...