10/30/2020

Month end has arrived once again.  We continued the risk off mode heading into the weekend as energy and stocks were the worst performers.  Grains finished a touch higher on the close, but were uneventful.  Tuesday next week we can put the election behind us and get one big unknown out of the way.  Spreads on corn widened back out again today as Barge freight went CRAZY.  So, another words there is a lot of demand up front, but we can’t logistically ship it that fast.  This might be a good opportunity to roll your HTA’s out to the March and continue to let basis improve.    A 5-cent carry to March isn’t much, but it still beats zero.  Manage your risk accordingly. The USDA announced another sale of 121,500 MT’s of soybeans to “unknown” this morning.  This bean market continues to feel friendly to me, but this correction was due.  I think any break lower will be well supported.  Weather looks good next week to wrap up harvest.  The 8-14 day does not look nearly as good as it looks cold and wet.  Have a great Halloween weekend!