Kleist Comments

MORNING GRAINS 1/2/14
MORNING GRAINS 1/2/14

Corn:

Exports: None Visible.

Comments: South American weather: Argentine rains this week seen as ‘favorable’, showers and t-storms, while Brazil has scattered showers. All in all, no real threat ? Not much news around yet after the holiday. C-O-T report was friendly but that’s all. Post holiday reports might be the better indicators. March corn is near its watermark at $4.20-4.18-1/2. Not evident that opening calls will be higher today. Open interest rose 7,520 amid light volume.

SOYBEANS:

Exports: None Visible.

Comments: Not much new here either: South American weather same here as in corn; deliveries ), meal 1 and soyoil 749; C-O-T report neutral; open interest fell 1,500 led by Jan. off 7,100 amid light volume. January hit our low end number at $13.09 Tuesday but through it the trading range turns negative. Opening calls weaker?

Wheat:

Exports: None Visible.

Comments: Southern Plains HRW said OK. That’s it. Open interest rose 4,900 amid light volume; March was able to hold roughly its $6.00 area but I am not prepared yet to say its bottomed. Opening calls mixed?

Kleist Comments

This is John Kleist, of Kleist Ag Consulting.
Questions? Email me: johnwkleist@sbcglobal.net

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