China China China
40 executive orders in less than 2 weeks. Biden signs, stands and walks. Never to answer questions. China winner, winner,
Us Grain Council
“Four of the top 25 US Corn Export sales announcements on record since 1977 happen this week all to buyers in China.”
China also bought 200 million gallons of Ethanol (source ADM) previous record 198 in 2016.
Russia export taxes on Corn,Wheat and Beans (March-June)
China Holiday starts Feb.12th. Question is are they front running the holiday or “Food Security” is 1st on there minds.OR is there a China/Taiwan conflict just around the corner.
Month of Feb. is insurance month
March Corn month of Jan:
High 553.75 and Low 479.50 = 50% 516.50
4 week avg is 516.50
March Soybeans month of Jan:
High 1436.50 and Low 1289 = 50% 1367.50
4 week avg is 1367.25
Dec. Corn / Nov Beans ratio 2.567
4 week avg Dec. Corn 444.50
Nov. Beans 4 week avg. 1150
We closed above 540.50 for March corn
IMHO target 575
Rains are now bullish in SA. Harvest time in some areas for beans and there’s delays. Also trucker strike Monday .. we shall see.
So many moving parts to this grain market. New crop prices are profitable please don’t sit on your hands make at least 20% sales.
Call with questions