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Retirement Reception For
Kim Peterson
And
Butch Fry
 
Sunday
January 26, 2020
2:00 pm to 5:00 pm
Willow Ridge Winery
Westervelt, IL
http://www.willowridgewinery.com/

 

Futures
@C - CORN - CBOT
Month Last Change Open High Low Close Time More
Mar 20 386'6 -6'4 393'2 393'2 386'4 387'2s 01/24 Chart for @C0H Options for @C0H
May 20 392'0 -5'6 398'0 398'2 392'0 392'6s 01/24 Chart for @C0K Options for @C0K
Dec 20 398'0 -5'0 402'6 402'6 397'4 398'2s 01/24 Chart for @C0Z Options for @C0Z
@S - SOYBEANS - CBOT
Month Last Change Open High Low Close Time More
Mar 20 902'2 -7'4 909'2 909'2 900'6 902'0s 01/24 Chart for @S0H Options for @S0H
May 20 916'2 -7'4 923'0 923'2 914'4 915'6s 01/24 Chart for @S0K Options for @S0K
Nov 20 938'6 -8'4 947'0 947'0 938'2 938'6s 01/24 Chart for @S0X Options for @S0X
@W - WHEAT - CBOT
Month Last Change Open High Low Close Time More
Mar 20 571'6 -7'0 581'6 581'6 569'4 573'4s 01/24 Chart for @W0H Options for @W0H
Jul 20 571'2 -5'6 579'6 579'6 569'2 573'0s 01/24 Chart for @W0N Options for @W0N
@YM - E-MINI DOW JONES $5 - CBOT
Month Last Change Open High Low Close Time More
Mar 20 28906.00 - 194.00 29129.00 29241.00 28796.00 28933.00s 01/24 Chart for @YM0H Options for @YM0H
My Custom Markets
Symbol Last Change Open High Low Close Time More

Closing Market Comments

1-24-20


CORN

 Corn was lower to end the week as traders expect export markets to be rather quiet next week with China celebrating the Lunar New Year. Corn was caught up in a general commodity-wide sell-off as grain, soybean, energy, and livestock markets all fell as a “risk-off” trading mentality dominated. This due to concern over the coronavirus which has caused the quarantine of nearly 40 million people in China in an attempt to limit its spread. CH tumbled 6 ½ cents, CK lost 5 ¾ cents, and CZ was off a nickel. Commodity funds were sellers of corn today, although sales were not especially heavy. As of midday, fund corn sales were estimated at 3000 contracts. There was no follow-through buying to yesterday’s move higher that saw corn close at recent high levels. This despite an encouraging export sales report this morning that showed old crop corn sales for the week ended January 16th of 39.6 million bu., the highest weekly total of the marketing year since the week ended September 12th. The market also ignored the sales announcement this morning of 142,000 MT’s of 19/20 U.S. corn to unknown destinations. The U.S. attaché in Argentina forecast the Argentine corn crop at 48 MMT’s or 2 MMT’s less than the current USDA projection. Lower Argentine production and exports may become a supportive factor in the coming weeks.


BEANS

  Soybeans were caught in the general wave of “risk -off” selling today and closed lower. SH and SK fell 7 ½ cents; SX was off 8 ½ cents. Commodity funds were sellers of an estimated 7000 soybean contracts as of midday. The prospects of a record large Brazilian soybean crop has weighed on the bean market all week with soybeans posting losses each day of the holiday-shortened week. Although soybean RSI’s are now near 30% indicating that the market is oversold and due for a short-covering rally, the large Brazilian harvest, concern about the coronavirus, and uncertainty over how many U.S. soybeans China will buy are keeping the market on the defensive. The weekly export sales report was a bullish bright spot as soybean sales of 29 million bu. were at the high end of trader expectations. Additionally, soymeal and soyoil sales were huge for a second straight week with soymeal sales of 642,000 MT’s – the highest level in six years. Soyoil sales were a marketing year high.



 

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