12.20.2024
45z guidance fails to appear; government scrambles to pass spending bill
The US government spending bill failed twice in as many days. If a deal is not reached by midnight on Friday December 20, some federal services will...
Organic Corn trading activity has slowed as most consumers have booked bushels through the end of Q1, ahead of the holiday season. There is light activity in the spot market with bids near $7.25 and offers at $8.0. The carry for Q2 has declined back to zero. NON-GMO yellow #2 CIF remained steady at $0.10 premium over conventional the balance of Q4, and Q1.
Corn board futures prices are pushing up to the top of an 8-week range, as hedge fund traders reduced both long and short positions in futures and options ahead of the holiday season. Per the most recent commitment of trader’s report released for the date December 6, 2016, managed money, that is short futures and options, outnumber managed money that is long by approximately, 73K contracts up from 70K contracts, 1-week ago.
Mid-west organic soy bean trading activity is slower for December and Q1. There was some light activity last week but activity has slowed ahead of the holiday. Generally, D-J-F-M is active as animals are not supplementing their feed in the pasture. Prices have dropped to the $16.50 levels driven by declines in bean meal prices. Import activity for bean meal, from China and India have pushed mid-west prices down to 775 range, driving down the price of organic beans.
The deluge of imports which were driven by contracts appears to have subsided. There is solid demand for lower protein meal such as canola and flax. The carry for the second quarter is flat. NON-GMO soybean CIF for November and December delivery are trading $0.10 –Â $0.30 above cash.
In the News
|
|
|
|