Silver's Comments 
E-mail: Michael J. Silver
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 February 13, 2018
Soybean futures closed higher today while wheat and corn
futures closed lower.  What’s driving soybean prices higher?
Hot day weather in Argentina and concern about that country’s
crop size.  Brazil on the other hand is experiencing wet conditions
which are affecting planting of that country’s Safrinha corn crop.
See Dr. Cordonnier’s comments about Argentine weather on the
Soybean & Corn Advisor website:
http://soybeansandcorn.com/news/Feb13_18-Weekend-Rains-Disappoint-in-Argentina-Dryness-Returns
 
Rising soybean futures prices have afforded opportunities to price both old
and new crop soybeans.
 
Commodity funds are now NET LONG the soybean market and have reduced their
short positions in wheat and corn.
 
Crop Insurance prices for Federal MPCI insurance are being determined during the
month of FEBRUARY.  Averages to date are:
 
Corn – $3.94     Volatility  .15
Beans  $10.04   Volatility  .13
Popcorn $.1694 Volatility .15

 

 

Futures Closes 

 

2/13/2018

 

Commodity        

Symbol

Close

Change

 

 

 

 

 

 

 

 

 

 

 

 

Mar 18 Corn

CH18

366 3/4

-0.25

 

 

 

 

 

 

 

 

Mar18 Beans

SH18

1011 3/4

10.00

 

 

 

 

SOYBEAN/CORN '18

SX18/CZ18

2.57

0.02

Mar 18Wheat

WH18

460 3/4

-3.25

US Dollar Index      

DX

89.58

-0.521

Crude Oil

CLG17

59.23

-0.06

Ethanol - Mar

AC

1.42

-0.0020

 

 

 

 

Today vs Last Friday Close

Today

Last Friday

Change

 

 

 

 

Mar 18 Corn

366 3/4

362   

4.75

 

 

 

 

 

 

 

 

Mar 18 Beans

1011 3/4

983   

28.75

 

 

 

 

 

 

 

 

Mar  Wheat   

460 3/4

449    

11.75

 

 

CFTC Funds Net (# cnts) Futures Only (COT REPORT)
         Date           Corn         Soybeans    Wheat  

2/7/2017

31,089

156,306

-91,818

2/14/2017

97,199

174,701

-48,122

2/21/2017

106,758

161,595

-37,551

2/28/2017

87,567

129,690

-59,233

3/7/2017

87,020

124,065

-65,521

3/14/2017

-27,352

93,544

-110,092

3/21/2017

-84,118

60,639

-133,166

3/28/2017

-151,798

36,798

-144,878

4/4/2017

-141,759

-4,358

-147,121

4/11/2017

-147,243

-33,963

-140,835

4/18/2017

-160,377

-49,190

-154,345

4/25/2017

-180,360

-52,475

-171,269

5/2/2017

-170,603

-51,483

-123,214

5/9/2017

-203,976

-38,353

-113,819

5/16/2017

-200,695

-39,312

-130,695

5/23/2017

-173,188

-69,775

-120,701

5/30/2017

-198,114

-93,790

-121,605

6/6/2017

-127,078

-101,752

-112,413

6/13/2017

-4,015

-90,790

-85,706

6/20/2017

-50,327

-96,433

-11,789

6/27/2017

-105,570

-125,912

-10,437

7/3/2017

-37,607

-82,630

23,997

7/11/2017

115,066

7,212

53,971

7/18/2017

107,803

31,265

46,757

7/25/2017

106,678

35,953

33,051

8/1/2017

81,443

26,516

14,739

8/8/2017

63,862

813

-12,054

8/15/2017

28,885

-22,651

-36,337

8/22/2017

-26,023

-35,295

-68,790

8/29/2017

-63,532

-32,677

-70,126

9/5/2017

-103,898

-12,529

-79,685

9/12/2017

-116,334

-7,246

-76,704

9/19/2017

-130,902

11,589

-73,941

9/26/2017

-121,671

25,013

-55,714

10/3/2017

-130,959

23,135

-49,284

10/10/2017

-150,963

25,869

-67,427

10/17/2017

-154,639

67,513

-78,815

10/24/2017

-155,307

47,234

-83,548

10/31/2017

-199,135

39,016

-115,567

11/7/2017

-202,456

45,053

-128,121

11/14/2017

-242,884

17,269

-113,264

11/21/2017

-212,279

20,314

-119,046

11/28/2017

-194,020

30,045

-126,466

12/5/2017

-155,061

54,885

-122,379

12/12/2017

-198,920

12,455

-165,412

12/19/2017

-223,405

-52,487

-164,098

12/26/2017

-198,493

-71,377

-152,060

1/2/2018

-189,536

-87,843

-135,523

1/9/2016

-216,832

-85,708

-135,516

1/16/2016

-225,063

-105,705

-148,969

1/23/2018

-217,057

-81,218

-149,777

1/30/2018

-129,054

-23,142

-91,532

2/6/2018

-84,872

-84,872

-78,256

Wkly Change

44,182

-61,730

13,276

Record +

409,444

240,937

73,662

Record -

-242,884

-93,790

-171,269

Est Today

-59,872

14,405

-81,256

Change

-6,000

12,000

-7,000

       

2/6/2018

Corn

Soybeans

Wheat

COT Actual

-84,872

-12,595

-78,256

Est on date

-118,054

-37,142

-94,632

Difference

33,182

24,547

16,376

In the COT report last Friday funds were not as short as

estimated.

 

Weekly Fuel Ethanol Production

Ag Economy Barometer Widget






The information contained in this message has been obtained from sources believed to be reliable, but is not guaranteed as to its accuracy or completeness. Opinions are solely those of the author, subject to change at any time, and do not constitute a solicitation to buy or sell commodity futures, options, or over-the-counter derivative products. Past performance is not indicative of future results.

 
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