Capitol Commodity Hedging Services

Capitol Commodity Hedging Services

  • United States, IN, Indianapolis
#Grain #Futures Comments

Corn and soy trade both sides following Monday sell off with more chatter on whether managed funds will maintain large shorts ahead of uncertain N. Hemisphere growing season., All three markets trading inside Monday’s trading ranges—indicating absence of any narrative changing overnight news.

Weather a mixed bag as needed Midwest dryness this week transitions into more wet weather for S Midwest/Delta next week thru 16-30 day. S American weather largely favorable—boosting CN/BN yield potential.

TX/OK winter wheat ratings improve while KS declines 2% in G/E category vs. last week. Southern SRW ratings mixed but uniformly below 5-year average.

Nothing new on trade front overnight except for Perdue statement that PRC over next 2-5 years may “triple” US ag purchases. On the negative side—SCMP article yesterday discussing possible June XI/Trump meeting refers to G-20 confab in Osaka, Japan that is not scheduled until June 28th .

Missouri Valley flooding in NE/IA/MN will undermine reliability of USDA’s March 29th acreage estimates.

Highlights of Brazil crop roundup:...
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Capitol Commodity Hedging Services
Capitol Commodity Hedging Services