MarketEdge

Select Pricing Program Bi-Weekly Updates!
John Stewart & Associates, May 19, 2017 Comments: (posted 5/22/17)

Bi-Weekly Update - May 19, 2017 - JSA Select Pricing Chart

The only trade made in the past 2 weeks has been the addition of another 20% in sales for fall soybeans. This additional sale takes us to 50% sold for fall soybeans at an average price of $10.25. If we sold the remaining 50% using tonight’s close of 9.52 our average for fall soybeans would be $9.97. Much of the attention in soybeans this week centered around Brazil and the sharp deterioration of their currency due to political scandals and the potential fallout resulting from these issues. For the farmers in Brazil the sharp drop in the Real created an opportunity for them to sell large quantities of cash beans at better prices. The longer term effects of this are far from known.

In corn we remain patient, and perhaps even more so after today’s strong rebound following yesterday’s South American lead decline. Corn seemed to get washed up with soybeans this week at times but on the week corn was up 1.5 cents as US uncertainties in weather and acreage continue to support the market. Our view is we will see modestly better values within the next 30-40 days.

Brian Burke
John Stewart & Associates


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Scott Sallee
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