Quiet trade overnight, markets didn’t have a very wide trade range. Corn stayed positive and closed 1-2 cents higher; Soybeans are 4 cents stronger this morning.
The story remains the same as we wind down another week, no new headlines to move the market significantly one way or the other. As long as China continues to not be a heavy buyer of our grain and South America’s crop continues developing nicely, it is going to be difficult to be bullish in the corn and soybean market. The January WASDE report coming up in a couple weeks is the main item to look forward to, which will finally bring some fresh news to the marketplace. Hopefully the government shutdown will get worked out by then, and the report doesn’t get delayed.
A couple of reminders:
Our 2019 New Crop Opportunity Plans have 2 separate and distinct alternatives:
The Landus Cooperative Managed Marketing Contract is new this year. Landus Cooperative Merchandisers will price your bushels and give you regular updates on their progress.
The pricing period runs from January 14th through September 20th. This is available for CORN only; increments of 5,000 bushels.
At the end, you will have a futures only contract, and will need to set your basis to establish the cash price.
There is a 6 cent per bushel fee for this contract. The sign up deadline of January 10th is fast approaching.
The Averaging Contract sells a portion of the total committed every day during the pricing period.
For corn, that is from March 11th through June 28th; Last year’s average was a little over $4 December futures (after fees). 5,000 bushel minimum and increments.
For soybeans, it’s April 29th through August 2nd; Last year’s average was $9.45 November futures (after fees). 2,500 bushel minimum and increments.
This has been a consistently good program through the years, as it is designed to price during the traditionally high portion of December corn or November soybean futures.
There is a 4 cent per bushel fee for corn or beans in the Averaging Contract. Sign Up Deadline is March 1, 2019.
Please contact your local GMA for more details.
Later today, we will release the latest Bull Bear Banter on the podcast, which can also be found here: https://landuscooperativeexperience.podbean.com/
Also, the deadline for the Market Facilitation Program (i.e. trade aid, the Trump bump) is Jan. 15th. Despite the partial government shut-down, FSA offices are open today. If you’d like copies of your deliveries, you can get those by logging in to your Landus Cooperative customer portal.
Have a great weekend!