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Market Signals Weekly Report

The following are comments and discussion items from the weekly conference call of the Market Signals Team.

Discussion Items :

  • Sell 10% 2020 Chicago July wheat at $5.90.
  • Soybean prices traded lower today on concern of the spread of SARS.
  • Wheat futures continue to trade higher on talk of lower EU and Russia exports.
  • Key to nearby prices could be China buying U.S. Ag goods.
  • Some feel the Chinese demand may be meat and vegoil may be less soybeans and corn.
  • Some feel direction of U.S. dollar could determine commodity price direction.
  • Talk of higher U.S./World 2020 corn and soybean crops could weigh on prices.
  • Some feel farmers should short hedge futures and cover near Feb lows and then buy cheap corn and soybean call to hedge against U.S. spring or summer weather rally.
  • Farmer then should sell cash corn and soybean on a spring weather rally.
  • U.S. SRW farmer beginning to sell new crop wheat on this rally.
  • Some look for U.S. 2020 soybean crop near 4.200, demand 4.085 and carryout 0.630 billion bushels.
  • Some look for U.S. 2020 corn crop near 15.700, demand 14.500 and carryout 3.300 billion bushels.
  • Some look for U.S. 2020 wheat crop near 1.825, demand 2.100 and carryout 0.830 billion bushels.



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