We continue to have record global grain demand placing more emphasis on the need to produce a crop which increases global production on a year-over-year basis.
Record demand increases sensitivity to any production threats in the coming months. With this Winter Storm moving through we will continue to experience wet and flooding conditions to many of the areas that have experienced those same conditions the past 30 days.
Over the next month and this cool/wet weather persisting we may see markets driven back to recent highs and if weather continues to be an issue we could go back to the late 2018/early 2019 highs.
To give you some perspective July 2019 corn futures were trading 3.70 Thursday, late 2018/19 recent high was 4.01.
Dec 2019 corn futures were trading 3.90 Thursday, late 2018/19 recent high 4.06.
July 2019 soybean futures were trading 9.10 Thursday, late 2018/19 recent high 9.65.
November 2019 soybean futures were trading 9.30 Thursday, late 2018/19 recent high 9.71.
Producers need to know their cost of production especially when pricing New Crop 19 corn/beans. Opportunities have existed in the past to lock in profits, know what that number is and get started locking in some of those bushels.
Our Oak Trading system gives you levels of profit/loss based on what cash prices are trading that moment in time. We can adjust costs to reflect your inputs. Take advantage and call your
CFC Grain Originator
in your area.