The cash markets saw mostly higher movement this week with prices continuing to stay in a tight range.
On average corn was up 1 cent after moving lower last week. Ethanol plants moved higher as well, up 2 cents per bushel. Weekly EIA report was close to expectations, finding only a small reduction in run times off last week's record high levels. Production slipped less than one-half percent to a 1.036 mil bbl/day rate. Carried forward, such a rate would utilize 5.54 billion bushels of corn. Corn along the river was off again this week, moving 1/4 cent lower.
Soybeans saw relatively strong movement this week gaining 2 cents per bushel. Crush facilities were once again the biggest movers gaining 3 1/2 cents. Soybeans along the river also moved higher, gaining 1/4 cents. Yesterday the EU released their official soybean import data. Soybean imports in 2016/17 were reported as having reached 6.2 million tonnes by Dec. 20, down 5 percent from 6.5 million at the same stage last season.
The risk of trading futures, hedging, and speculating can be substantial. Grain Hedge is a Branch of Foremost Trading LLC (NFA ID: 0307930)
