Posted by: usset001 | April 6, 2009

The “too-too” season in full swing

thumbsupiconWe find ourselves in the grips of a spring weather market; too cold, too wet and growing concerns about a late planting start. The result? The best new crop selling opportunities we’ve seen since January.

Dec’09 corn is close to the $4.35 mark and called modestly higher this morning. This 35 cents shy of the January high, but it feels a lot better than the $3.80 low of early March. I consider it a good selling opportunity for new crop corn, particularly if you are behind on new crop sales.

Nov’09 soybeans start the week close to $9.25 and they are called higher. This is nearly $1.25 off the early March lows and another good catch-up opportunity. Diito for spring wheat, with Sep’09 futures above $6.60 per bushel and nearly 80 cents higher than March lows.


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