11-13-16

Last weekends grain comment I took at shot at weekly ranges even
with the Election and a USDA report due out.
Range was
Corn 355-336(CZ)
Beans (Jan) 1005-1011 lows 978-964
Actual
CZ 356.50-339
Jan beans 1020.75-977
It was a nice week in this office.

Crude oil-end of the month meetings to cut production.
Since the hint of production cut we did rally to 52.22 but now
trading 43.40. So the oil producers over seas did get there chance to
hedge the phony rally with there rhetoric.

Dollar strong/IMHO upside target still 101
Brazil Real did become weaker.

Beans rallied at night on Asia openings and Palm Oil at 4 yr. highs.
BUT we sold off the last 3 days off those highs due to our supplies.

15 & 30 year corn trends are sideways to lower until the end of Nov. and first few
days of Dec. Then we see a Dec. up trend into March.

So I'm still playing selling rallies this week in both corn and beans. Been taken the money
also. TRADES

Is it possible that Dec. corn goes into the 322 area on the continuation chart?....YES
Yields for both corn and beans are very good and some with more bushels than expected.
Don't store those bushel..sell them. Save your storage cost and if you want by July corn calls.

My out look for 2017. Like most see less corn acres and more beans acres. Don't expect 175 corn yield
or 52.50 bean yield in 2017. So there is HOPE.

Natty Gas.....Nov. has been warm. Might be a time to look at the charts and buy some cheap calls.

BE Safe