Jon Scheve
President, Superior Feed Ingredients and Contributor at Ohio's Country Journal and Ohio Ag Net
Grain Trader; Farm Advisor; Public Speaker; basis, spread & options trader; corn & soybean farmer.
Articles
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1 week ago |
ocj.com | Jon Scheve
Market Analysis, Top Headlines By Jon ScheveI have received requests for an explanation of the corn futures delivery process. So, I contacted my good friend Joe Rich of O’Bryan Commodities to help me summarize this complex process. The delivery process is a big driver of the spreads between futures month contracts. It also determines how much carry is needed in the market or if supply is limited and warrants an inverse to pull the grain out of storage.
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2 weeks ago |
ocj.com | Jon Scheve
By Jon ScheveThe corn market doesn’t seem concerned with the possibility of tighter stocks, which may mean there is more supply than the USDA is currently estimating. One indication of this is that both wheat and sorghum’s basis values in the southwestern corn belt are much lower than usual for this time of year. This is also pulling down corn’s basis value there, which is unusual.
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3 weeks ago |
ocj.com | Jon Scheve |Doug Tenney
By Jon ScheveNational yields are always highly debated within the trade from when they are first published in the May USDA WASDE report until they are nearly finalized in the January report. It makes sense, because yields are the biggest driver of supply and the quickest way for prices to rally. Each year, the USDA publishes a trend line yield that seems too high for some market participants. Often, it’s because the yield estimate requires a new record or a tying of a previous record yield.
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3 weeks ago |
ocj.com | Jon Scheve
Crops, Market Analysis, Top Headlines By Jon ScheveThe USDA released their updated supply and demand estimates after the stocks report nearly two weeks ago. Carryout was tighter than many in the trade were expecting. I was anticipating a more significant decrease in corn used for animal feed to offset any export increase. With what we know today, most in the trade seem to find the increased exports number reasonable.
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1 month ago |
ocj.com | Doug Tenney |Leist Mercantile |Jon Scheve
By Doug Tenney, Leist MercantileFor months I have been trying to find Belle-View pickles. They have a sweet chip which pairs splendidly with ham salad. No luck in my local stores. I even braved the throngs at Walmart. Growing frustration increased. I asked friends if they were familiar with that brand.
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So far the high on Dec 25 corn is almost $4.80 made on February 20th. In the last 35 years February has not seen the highest price of the year on Dec corn. #OATT https://t.co/8kG2ysBu4D
RT @rjw1249: What happens when grain sales are cancelled? In grain trading, it does not mean buyers can walk away from contracts without pe…
80 of the last 85 trading sessions Dec corn has traded in the $3.95 to $4.25 range during the session. 2 sessions that did not trade in that range were above the range while 3 were below.