PLEASE JOIN US ! 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
May 20
392'0
-5'6
398'0
398'2
392'0
392'6s
01/24
Dec 20
398'0
-5'0
402'6
402'6
397'4
398'2s
01/24
@S - SOYBEANS - CBOT
Month
Last
Change
Open
High
Low
Close
Time
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Mar 20
902'2
-7'4
909'2
909'2
900'6
902'0s
01/24
May 20
916'2
-7'4
923'0
923'2
914'4
915'6s
01/24
Nov 20
938'6
-8'4
947'0
947'0
938'2
938'6s
01/24
@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
Jul 20
571'2
-5'6
579'6
579'6
569'2
573'0s
01/24
@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
My Custom Markets
Symbol
Last
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Open
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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.
News from the Coop
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