Closing Remarks

Closing Remarks

August 18, 2017

Provided by Matt Lukac, Sunrise Grain Solutions Advisor

TGIF and I mean it !  This week has been a bear in the market.  Follow through selling from last weeks report pressured corn to near 12 month lows and wheat to new contract lows.   November bean futures found support at the June 30th low of 9.21 this week and rebounded to close at 9.37 ¾ today.

Some harvest and loading delays in the Gulf region provided some support today.  As discussed yesterday, from a technical standpoint all 3 commodities we trade in this area have reached oversold conditions and are due for a slight rebound.  When I say rebound, I am being optimistic at $3.50 cash corn near term.  Please call you Sunrise Solutions Advisor to place target orders to capture any rally.

Turning attention to OLD crop beans, basis has firmed a few cents at the processor this week.  Looking at the calendar, we are mid August already.  Quick ship basis on beans may not be as strong as we have gotten the past few years but, with delayed planting beans may be a little slower getting to the processor.  The result being a short window to capture a premium over new crop bids.  If you will be harvesting beans in early September call your Sunrise Solutions Advisor to lock in basis.

Thank you for your Business !

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