Edwards Market Thoughts

11/12/19 8:00am

Markets continue to struggle on concerns that the U.S./China compromise will not happen. Quiet otherwise on the news front leaving the market without buying interest.

President Trump is expected to announce this week he is delaying a decision on whether to slap tariffs on cars and auto parts imported from the European Union, likely for another six months, EU officials said.  "We have a solid indication from the administration that there will not be tariffs on us this week," one EU official said.

USDA weekly crop progress report will be released today at 3 p.m. CST (due to government closures on Veteran’s Day).  Trade is looking for corn harvest rating at 65% complete (52% complete last week, 84% last year, 84% 5-year average).  Soybean harvest rating at 83% (75% last week, 87% last year, 92% 5-year average).

Dow futures showing a 24 pt. gain this morning trading 27,682 and near all-time highs. Trump speaking at the Economic Club of New York today and could give indications on status of US / China trade talks.

Overall weather conditions in Brazil regarded as favorable.

A market lacking news with adequately supplied balance sheet is not the recipe for price strength. Store / sell decision on soybeans largely over. Yet to come on corn. Great option for corn at settlement is the EPC contract. It will generate cash if need be, it stops any storage cost, and gives you upside protection with ( no margin calls  ) until the end of next June 2020 if you would want.

If have corn stored on farm or in the plant another great marketing tool is having open orders or (open Offers) in above the market. These open offers can be cancelled or changed at any time. Great tool to use if not going to be watching the markets very close and have price levels in mind to make some sales..

EMT mentioned CZ price action through the month of November noting lows made late month in each of the previous 4 years. Sure feels like this market action is holding true.  Having upside protection this year could be big, still some things unknown about this year's crop yet!! I would want to have upside protection on at least until I see what kind of spring weather we have to deal with next year!!!

 

Local Weather
Weather radar map

Sioux Center, Iowa (51250)

Current Conditions: Cloudy
Temperature: 23°F Dew point: 14°F
Humidity: 68% Pressure: 29.87 in. Hg
Wind: 13 mph From: South

Forecast

Wednesday
Weather condition
Hi: 33°
Lo: 12°
Thursday
Weather condition
Hi: 32°
Lo: 21°
Friday
Weather condition
Hi: 40°
Lo: 27°
Saturday
Weather condition
Hi: 41°
Lo: 28°
Sunday
Weather condition
Hi: 40°
Lo: 29°

Zip Code:

© 2019 Freese-Notis Weather

Siouxland Cash Bids
Name Delivery End Basis Cash Price Futures Price

View all cash prices...
Quotes retrieved on November 13, 2019, 01:49:42 AM CST
All grain prices are subject to change at any time.
Cash bids are based on 10-minute delayed futures prices, unless otherwise noted.
Industry News

Click on the link below to find encouraging industry information that we would like to share with the supporters of both our company and the renewable fuels industry - 

http://www.ethanolproducer.com/articles/16668/ethanol-producers-need-to-reduce-their-ci-scoreundefinedand-quickly

Corn Receiving

Scale hours 

Monday - Friday

7:30-4:30

Saturday 11/16 To Be Announced

 

Let our Senators and Congressmen know!

Growth Energy has provided us an easy link to let our Senators and Congressmen know how the misuse of the SREs have affected the Renewable Fuels Industry. As members and employees we need your help to make sure our message is heard!

PLEASE take a moment to use this tool to express your concern. A form letter will populate after you put in your contact info and you will have the chance to add anything additional you feel would help highlight the damage being done by SREs and urge them to support the RFS Integrity Act of 2019. Here is the link - https://p2a.co/7VmlFP2

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Commentary
Cotton Closes Tuesday with Gains -

Cotton futures closed 13 to 35 points higher today, with gains dwindling through the nearby futures contracts. Cotton harvesters tried to get ahead

Cattle Futures Close Mixed -

Live cattle futures finished mixed, with Dec and Feb down 10 to 12 cents and Apr gaining $0.22. Feeder cattle futures Rebounded after midday lows,

Soybeans Hold Steady -

Soybean futures found support today, and remained pretty steady throughout, to finish fractionally mixed on Tuesday. Soybean meal was $1.70/ton

Corn Rebound on Tuesday -

Corn futures gained back 3 to 4 1/2 cents on Turnaround Tuesday. US corn harvest was reported in line with trader anticipations, with the USDA

Wheat Rallied Double Digits -

Wheat futures finished Tuesday’s session higher, with Kansas City HRW futures leading the way at 16 cent gains. Chicago SRW wheat also topped

Ag Market Commentary -

Corn futures gained back 3 to 4 1/2 cents on Turnaround Tuesday. US corn harvest was reported in line with trader anticipations, with the USDA

Full commentary...


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