Monthly Archives: February 2014

MidCo Update

Despite the rally, a much quieter day with limited farmer selling. Corn rallying on talk the EPA may INCREASE ethanol mandate to 13.5 bg. Commodity guru Dennis Gartman said corn is the best commodity to buy. Nearby bean spreads continue to collapse, briefly traded @ a carry! Wheat higher on cold temps, Ukrainian unrest also supportive. Russia has placed armed men in 2 Ukrainian airports in Crimea. Brazil’s Safras cuts their bean production est to 86.1 mmt vs WASDE @ 90. Swampy conditions in parts


MidCo Morning Comments

Good morning. Grains and soybeans have worked higher this morning after a two-sided overnight trade.  Despite the key reversal for soybeans yesterday, beans have rallied to session highs as we approach 7:45. Funds are holding a near record long soybean position. Yields of Southern Brazilian soybeans have been better than expected despite the hot and dry conditions that crop endured through part of the growing season. The Brazilian soybean harvest is expected to be about 40% completed by