The cash markets were up this week, posting modest gains.
On average, corn gained 2 3/4 cents per bushel, securing the fourth week of gains. Ethanol plants saw positive movement as well up 5 1/2 cents. Ethanol production was off slightly by about 2,000 barrels at 1.01 MBPD. Stocks were lower as well, 504,000 barrels less than last week. Corn along the river gained 1 cent moving only slightly higher.
Soybeans gained an average of 2 cents per bushel. Crush facilities fell slightly by 1/2 cent this week. Palm oil hit a 4-year high on Thursday and continues to provide some support for soybeans. Soybeans along the river regained last week’s losses gaining 8 3/4 cents.
The risk of trading futures, hedging, and speculating can be substantial. Grain Hedge is a Branch of Foremost Trading LLC (NFA ID: 0307930)
