Written Commentary
CLOSING COMMENTS
Natural Gas:
Saw a sharp drop from it’s mid January highs due to a more mild February weather forecast. Snow is expected to hit the Pacific Northwest but is relativity absent from the rest of the country in the 10 day forecast.
Brazil’s Crop Schedule can be seen below. The 2nd crop corn planting is normally much further along. estimate range from 5-10% complete at this time which is behind pace.
Corn Grown in the US primarily is used for Feed, FSI an Ethanol, but Exports tend to be the outlet that fluctuates the most with internal and external influences. This Saturday’s tariff announcement could market one of those major influences regarding corn to Mexico.
CALENDAR SPREADS
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COST OF CARRY
Daily Trading Limits: Corn $0.30 (expanded $0.45); Soybeans $0.85 (expanded $1.30); Minneapolis Wheat $0.60 (expanded $0.90); KC Wheat $0.40 (expanded $0.60); Chicago Wheat $0.40 (expanded $0.60)
Futures Settlements & Technicals
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