Clean Energy Futures

All about market futures in the green energy industry
AgMaster 9-27-19

DEC CORN

This is an abbreviated version – waiting on the USDA Report next Monday at 11am! The mkt put in a seasonal low following the key-reversal-up after the bearish Oct Crop Report On Thur 10/12!  Since then, we’ve had sideways congestion – with the “good” – daily export sales & lagging crop maturity offset by the “bad” – harvest pressure & no trade deal – yet!

FACTORS IMPACTING THE MKT

  1. EXPORTS – Mon –  600,000 MT Beans to China Tues    200,000 MT Corn to Mexico Wed –  581,000 MT Beans to China Thur –  257,000 MT Beans to China Fri    –   126,000 MT Beans to China
  2. US/CHINA TRADE DEAL – on again, off again! One day it looks good – and the next day not! But we’ve resumed face-to-face meetings – with more scheduled for DC in early Oct! And some exports are flowing! Our feeling is Trump needs a deal to get back in! The farm vote was critical for him in 2016!
  3. CROP MATURITY IS LAGGING -reminding us of the slowest corn & bean harvest in recent memory – however an unseasonably warm September has really helped the late-planted crop
  4. GEO-POLITICAL FACTORS – the recent “impeachment inquiry” is not good for the mkts in general – time, money & effort that should be devoted to constructively resolving our many issues is instead devoted to our endless political bickering
  5. WEATHER – a so-far warm Sept has taken frost out of the equation but the crop is a long way from in the bin
  6. OUTSIDE MKTS – The DJI is hugging the highs – crude is in the middle –range bound but the strong US Dollar is harmful  -restricting badly needed exports
  7. PRICE LEVEL – taking a gander at the 10-year charts, we find ourselves in the Bottom 1/3 of a 10 year range
  8. SEASONALS – harvest lows – in our opinion – have already been made

We feel the “DOWN” has been taken out of the mkt – at current levels! That means sideways to up – and this depends on how the yields turn out – our “gut” says they won’t be as good as generally thought!!

 

141 W. Jackson Blvd. Suite 1920  Chicago, IL 60604  |  (800) 769-7021  |  (855) 264-6673 (Direct)   |  www.pricegroup.com

A Subsidiary of Price Holdings, Inc. – an Employee Owned Diversified Financial Services Firm. Orders must be entered via direct verbal communication with a representative of our firm. We cannot be held responsible for orders left in any other manner.  PAST RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. Investing in futures can involve substantial risk & is not for everyone. Trading foreign exchange also involves a high degree of risk. The leverage created by trading on margin can work against you as well as for you, and losses can exceed your entire investment. Before opening an account and trading, you should seek advice from your advisors as appropriate to ensure that you understand the risks and can withstand the losses. Member NIBA, NFA.

The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or futures. The PRICE Futures Group, its officers, directors, employees, and brokers may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction. Reproduction and/or distribution of any portion of this report are strictly prohibited without the written permission of the author.

To SUBSCRIBE to the AGMASTER please go to http://bit.ly/xIGR6x.

To Unsubscribe from the AGMASTER please send an email to offers@pricegroup.com.

 

View the AGMASTER Archives at http://blog.pricegroup.com/tag/agmaster.

 

Leave comment

Your email address will not be published. Required fields are marked with *.