Dec 09, 2016

Weekly Cash Comments

Weekly Cash Commentary for week ending 12/09/2016

The cash markets showed mixed movements this week.

On average corn gained 2 1/2 cents, for a fifth consecutive week of gains. Ethanol plants saw positive movement as well up 2 1/4 cents per bushel. China is aiming to produce 4 million tonnes of ethanol by 2020, doubling output from the current level, even as it keeps tight control over the use of food grains, a government plan showed on Monday. Corn along the river was the leader to the upside this week up 5 1/4 cents. Corn exports were notably good this week coming in 400,000 MT above expectations at 1,495,000 MT.

Soybeans were off 1/2 cent this week, continuing to fluctuate from week to week. Crush facilities were off as well losing an average of 1 1/2 cents per bushel. Beans along the river were the leader to the downside, off 1 3/4 cents. Although cash markets have dropped, foreign demand for soybeans remains strong and has provided some support to the bean market.

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Kevin McNew

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Magazine

Marketwatch: Apr, 06

US Corn Price Idx:ZCPAUS.CM

open: 7.3207
high: 7.3968
low: 7.274
close: 7.313

US Soybean Price Idx:ZSPAUS.CM

open: 15.6294
high: 15.7696
low: 15.5821
close: 15.7086

US Hard Red Winter Wheat Price Idx:KEPAUS.CM

open: 10.2661
high: 10.4286
low: 10.1018
close: 10.2729

US Soft Red Winter Wheat Price Idx:ZWPAUS.CM

open: 9.8201
high: 9.9876
low: 9.583
close: 9.7227