Exports for the week were dismal in corn. The trade was expecting corn exports to range from 18 to 30 million bushels. Combined old and new crop sales totaled only 15.8 million bushels and are.......
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Due to delayed plantings in the major corn states and expected further delays in IA and MO, a position of ownership via options is warranted. A shortage of corn would develop if reduced yields resulted from this delay. Potential risk is a change in weather or collapse in commodities......
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The Energy Information Administration recently released its latest data concerning ethanol production and ending stocks data (for the month of Feb). The EIA has released its month of February ethanol production estimate at 15.025 million barrels versus a record.....
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CME Group Issues New Price Limits
The CME Group said on Monday that daily price limits for Chicago Board of Trade soybean, soyoil and corn contracts will be raised starting March 28,2008 to maintain an orderly marketplace. The daily price limits for CBOT corn futures will be raised to 30 cents per bushel from 20 cents, soybeans will increase to 70 cents from 50 cents and soyoil to 2.5 cents from 2.0 cents per lb.
These changes are subject to the approval of the Commodity Futures Trading Commission. The new price limits come amid one of the most volatile trading seasons in the history of the Chicago Board of Trade. The last time Chicago Board of Trade price limits for corn, soybeans or soyoil were expanded was in 2000. However, CBOT wheat limits were increased in February of this year after five consecutive days of limit-up moves.
Daily price limits for wheat, corn, soybeans, soybean meal, soybean oil, oats and rough rice futures will widen by 50 percent the following day when the price of two or more
contracts within the first five to eight non-spot contracts (depending on the commodity's crop year), or the final contract month of a crop year, closes at limit bid or limit offer. Price limits can expand two consecutive times. Daily price limits will step back to their prior levels when no contract closes at limit bid or limit offer that day.
Price limits will continue to be removed on a spot contract when it enters the delivery period. Premiums on options are subject to the same daily price limits as the underlying futures.
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There is a substantial risk of loss when trading futures and futures on options.
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Allendale has just released the NEW Evaluator program for 2008. This program will show you how much money you can make using different positions. You can simulate any position or combination of positions and the program will calculate a range of results at different expiration prices.
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Minneapolis Grain Exchange
Link directly to the Minneapolis Grain Exchange for the latest news and market information on the Minneapolis markets including the grain futures indexes.
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