
Ted Seifried
20.8K posts

Ted Seifried
@TheTedSpread
VP and Chief Market Strategist of Zaner Ag Hedge. Trading commodity futures and options involves substantial risk of loss and is not suitable for all investors.


damn those some dongs hangin off the may corn weekly norm


🌽In 1861 the U.S. exported about 12 million bushels of corn per year. At today's estimated 3.3 billion bushels, the Civil War-era annual export volume leaves the country every 32 hours.





🌽HOLY. CORN. BUYING. Money managers in the week ended March 10 bought more than 140,000 CBOT corn futures & options contracts (the fourth most for any week on record). The resulting net long - 193,271 contracts - isn't even halfway to the all-time record (429k in 2010).




In this same timeframe corn was up just 5 3/4 cents. There is another 17 billion pound gorilla in the room… the American farmer.



🇺🇸U.S. ethanol production last week hit 1.126M barrels per day, the third best weekly volume on record. However, ethanol stocks declined on the week to 25.6M barrels, which is actually the week's lowest reading in four years.

Soybean inspections really need to stay above average from here on out (for the most part), so bigger numbers now are very helpful. Last week wasn't corn's best, but one (relatively) "meh" week doesn't make a trend. It shouldn't cause much concern unless the pattern repeats.












