Weekly Cash Commentary for week ending December 02, 2016
The cash markets were up this week, posting modest gains.
On average, corn gained 2 3/4 cents per bushel, securing the fourth week of gains. Ethanol plants saw positive movement as well up 5 1/2 cents. Ethanol production was off slightly by about 2,000 barrels at 1.01 MBPD. Stocks were lower as well, 504,000 barrels less than last week. Corn along the river gained 1 cent moving only slightly higher.
Soybeans gained an average of 2 cents per bushel. Crush facilities fell slightly by 1/2 cent this week. Palm oil hit a 4-year high on Thursday and continues to provide some support for soybeans. Soybeans along the river regained last week’s losses gaining 8 3/4 cents.
The risk of trading futures, hedging, and speculating can be substantial. Grain Hedge is a Branch of Foremost Trading LLC (NFA ID: 0307930)
US Corn Price Idx:ZCPAUS.CM
open: 7.6386
high: 7.8377
low: 7.6386
close: 7.7452
US Soybean Price Idx:ZSPAUS.CM
open: 16.9958
high: 17.3377
low: 16.9368
close: 17.2028
US Hard Red Winter Wheat Price Idx:KEPAUS.CM
open: 10.9106
high: 11.1299
low: 10.844
close: 11.0805
US Soft Red Winter Wheat Price Idx:ZWPAUS.CM
open: 9.9532
high: 10.1684
low: 9.8632
close: 10.1335
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