2014 28th ANNUAL GREY BRUCE FARMERS
WEEK – 2014 GRAIN MARKET OUTLOOK - IS
$4.00 CORN NEW NORMAL?

1
2012 GRAIN OUTLOOK: IS $7.00
CORN THE NEW NORMAL?

2
2011 PRICE TARGETS (GAME PLAN)
CROP

PRICE FORECAST

CORN

SHORT-TERM (30-60 DAYS) $6.74 - $7.00
LONG-TERM (60 – 210 DAYS ...
2012 PRICE TARGETS (GAME PLAN)
CROP

PRICE FORECAST

CORN

DECEMBER FUTURES US $7.00 – $8.00

SOYBEANS

NOVEMBER FUTURES U...
AGENDA

Review of 2011 & 2012 U.S. DROUGHT
2013 similar to 1988 as a “SHORT CROP, LONG TAIL” year.
2014 Grain Supply & ...
MONTHLY LONG-TERM CORN CHART

6
U.S. DROUGHT PEAKED IN SEPTEMBER OF
2012

7
2012 U.S. HEAT & DROUGHT DESTROYED
U.S. CORN YIELDS 122.8 BPA

8
U.S. DROUGHT WORST IN 91 YEARS,
JULY 16, 2012

9
WHAT A DIFFERENCE A YEAR MAKES
JULY 2013

10
U.S. CORN YIELDS DATING BACK TO 1866

RARE & VERY
UNUSUAL

11
2012 QUALIFIES AS A “SHORT CROP,
LONG TAIL YEAR” LIKE 1988

SHORT CROP

LONG TAIL

12
2012 “SHORT CROP, LONG TAIL”

13
MANAGED MONEY CROWD WERE RECORD
LONG
COMMODITY

LONG OR
SHORT
(05/31/11)

LONG OR
SHORT
(11/22/11)

LONG OR
SHORT
(07/10/1...
2013’S LONG TAIL GOT LONGER

NEEDED TO SELL A
YEAR IN ADVANCE

15
2014 GRAIN OUTLOOK
2014 JANUARY USDA WASDE REPORT BULLISH
CORN, NEUTRAL SOYS & BEARISH WHEAT!

17
2014 MARCH WEEKLY CORN FUTURES CONTRACT

18
PRE 2014 JANUARY WASDE REPORT - 2014 & 2015 U.S.
CORN SUPLLY & DEMAND PROJECTIONS & OUTLOOK

19
PRE 2014 JANUARY WASDE REPORT - 2014 & 2015
U.S. CORN DEMAND PROJECTIONS & OUTLOOK

20
POST 2014 JANUARY USDA WASDE REPORT - 2014 & 2015
U.S. CORN SUPLLY & DEMAND PROJECTIONS & OUTLOOK

21
POST 2014 JANUARY USDA WASDE REPORT - 2014
U.S. CORN DEMAND PROJECTIONS & OUTLOOK

22
PRE 2014 JANUARY WASDE REPORT - 2014 & 2015 U.S.
SOYBEAN SUPLLY & DEMAND PROJECTIONS & OUTLOOK

23
PRE 2014 JANUARY WASDE REPORT - 2014 & 2015
U.S. SOYBEAN DEMAND PROJECTIONS & OUTLOOK

24
POST 2014 JANUARY WASDE REPORT - 2014 & 2015 U.S.
SOYBEAN SUPLLY & DEMAND PROJECTIONS & OUTLOOK

25
POST 2014 JANUARY WASDE REPORT - 2014 U.S.
SOYBEAN DEMAND PROJECTIONS & OUTLOOK

26
PRE 2014 USDA JANUARY WASDE REPORT - 2014 & 2015 U.S.
ALL WHEAT SUPLLY & DEMAND PROJECTIONS & OUTLOOK

27
PRE 2014 USDA JANUARY WASDE REPORT - 2014 & 2015
U.S. ALL WHEAT DEMAND PROJECTIONS & OUTLOOK

28
POST 2014 USDA WASDE REPORT - 2014 & 2015 U.S. ALL
WHEAT SUPLLY & DEMAND PROJECTIONS & OUTLOOK

29
POST 2014 USDA WASDE REPORT - 2014 U.S. ALL
WHEAT DEMAND PROJECTIONS & OUTLOOK

30
LONG-TERM WEEKLY CHART ON CHICAGO WHEAT
FUTURES

SOURCE: WWW.QTPLUS.COM

31
2014 USDA AG OUTLOOK FORUM

32
2014 USDA AG OUTLOOK FORUM
2013 PROJECTIONS

33
2013/14 GLOBAL TRENDS

34
#1 LARGEST ECONOMY U.S. LOOKING BETTER
GROWING AT 3.6% IN 13, +2.5% IN 2014

35
STOCK MARKETS CONTINUE TO CLIMB THE WALL OF WORRY TO
NEW ALL TIME RECORD HIGHS, NEGATIVE FOR COMMODITIES
BUT….

2014 DJIA ...
#2 LARGERST ECONOMY CHINA EXPECTED TO GROW
AT +7.70+ IN 2013, +8.2% IN 2014

37
OPEC PROJECTING $100 – $110 ON INCREASED
DEMAND, SUPPLY WILL WEIGH
2014 FEBRUARY WEEKLY CRUDE OIL FUTURES CHART

SOURCE: W...
HEATING OIL FUTURES HIGHER = HIGHER
DIESEL FUEL PRICES
2014 FEBRUARY WEEKLY HEATING OIL FUTURES CHART

SOURCE: WWW.QTPLUS....
STRONGER EUROPE, GROWTH IN 14 =
HIGHER EURO $
2014 MARCH WEEKLY EURO $ FUTURES CHART

SOURCE: WWW.QTPLUS.COM

40
U.S. $ INDEX TRENDING LOWER, SUPPORT
AT $80
2014 MARCH U.S. $ INDEX FUTURES CHART

SOURCE: WWW.QTPLUS.COM

41
CDN $ TRENDING LOWER, SUPPORT AT $0.93
A $ YEAR LOW
2014 MARCH CANADIAN $ WEEKLY FUTURES CHART

SOURCE: WWW.QTPLUS.COM

42
US TAPER WILL SLOW DOWN, BUT LABOR
MARKET WEAK???

43
RASING OF DEBT CEILING RISK OFF THE TABLE IN
2014, NO RECESSION FOR 12 – 24 MONTHS

SOURCE: WWW.QTPLUS.COM

44
2014 TECHNICAL CHART OUTLOOK

45
2014 JULY CORN DAILY FUTURES CHART

46
2014 DECEMBER CORN DAILY FUTURES
CHART

47
2014 JULY SOYBEAN DAILY FUTURES
CHART

48
2014 NOVEMBER SOYBEAN DAILY FUTURES
CHART

49
2014 JULY CHICAGO WHEAT DAILY FUTURES
CHART

50
2014 ONTARIO BASIS WATCH

51
2013 & 2014 ONTARIO CORN BASIS

52
2013 & 2014 ONTARIO SOYBEAN WATCH

53
2013 & 2014 ONTARIO CHICAGO WHEAT
(SRW) BASIS

54
2013 WEATHER & CROP PROGRESS
UPDATE

55
U.S. DROUGHT MONITOR MAP – U.S. AT 54% VS. 12 AT
74%
U.S. DROUGHT MONITOR MAP – U.S. MIDWEST AT 33% (BETTER
BY 9% IN 1 MONTH) ABNORMALLY DRY VS. 12 AT 72%
BUT SOIL MOISTURE LOOKING GOOD
U.S. WINTER TO PROVIDE ABOVE NORMAL
RAINFALL
U.S. MIDWEST SUMMER 2014 HOT & WET
U.S. TEMPS % PRECIPITATION NOVEMBER 2013 –
OCTOBER 2014
BOTTOM-LINE

62
2014 TRENDS TO WATCH

63
WATCH SPECULATORS REMAIN SHORT CORN & WHEAT,
SOYS HAVE MOST TO LOSE AS FUNDS REMAIN LONG
COMMODITY

LONG
LONG OR LONG OR L...
WATCH CHINESE DEMAND (UP 5 FOLD IN 5 YEARS)
WATCH WEATHER NEEDS TO BE DRY EARLY FOR
FUTURES TO RALLY
LOOK FOR A LOWR CDN $ FOR BASIS
OPPORTUNITIES
2013/14 OLD CROP BASIS TARGETS
COMMODITY

01-09-14
BASIS/BU

BASIS TARGET
LEVEL/BU TO
BOOK

CORN

-0.20

0.00 - +0.10

SOY...
2014/15 NEW CROP BASIS TARGETS
COMMODITY

12/09/13 BASIS
LEVEL/BU

BASIS TARGET
LEVEL/BU TO
BOOK

CORN

-0.25

0.00 - +0.1...
2014 MARKETING GAME PLAN
2013/14 OLD CROP FUTURES TARGETS
COMMODITY

FUTURES
MONTH

FUTURES TARGET
PRICE UPDATE

CORN

JULY 2014

$5.00 - $5.50

SO...
2014/15 NEW CROP FUTURES TARGETS
COMMODITY

FUTURES
MONTH

FUTURES TARGET
PRICE UPDATE

CORN

DECEMBER
2014

$5.09 - $5.29...
2015/16 NEW CROP FUTURES TARGETS
COMMODITY

FUTURES
MONTH

FUTURES TARGET
PRICE UPDATE

CORN

DECEMBER
2014

$5.12 - $5.29...
THANK YOU
QUESTIONS & DISCUSSION
Please e-mail or call me at
Maurizio (Moe) Agostino
Farms.com Risk Management
Managing Co...
COMMODITY MARKETING
THAT MAKES CENT$

75
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Crops Day - Moe Agostino, 2014 Grain Outlook – Is $4.00 Corn the New Normal?

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Maurizio (Moe) Agostino, Managing Commodity Strategist, Farms.com Risk Management

2014 Review of Grain Supply and Demand Fundamentals, Key Global Macro Issues, Chart Analysis, Weather and basis update and grain price target outlooks. Where will the marketing opportunities appear in a lower priced grain environment.

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  • Show the image of the U.S. Drought Monitor Map.
    In point form show the following;
    The 2012 U.S. drought started in January and peaked in September of that year.
  • Show the image of a corn cob.
    In point form show the following;
    The 2012 U.S. drought dropped U.S. average corn yields to 122.8 bpa.
  • Show the image of corn.
    In point form show the following;
    The 2012 U.S. drought worst since 1956.
  • Show the image of corn.
    In point form show the following;
    The 2012 U.S. drought worst since 1956.
  • Show the image of U.S. corn yield chart.
    In point form show the following;
    2012 U.S. corn yields dropped from a record 164.7 in 2009 to 122.8 a drop of 41.9 bushels/acre.
  • Show the image of the 1988 December daily corn futures chart.
  • Show the image of U.S. corn yield chart.
    In point form show the following;
    2012 U.S. corn yields dropped from a record 164.7 in 2009 to 122.8 a drop of 41.9 bushels/acre.
  • Show the chart of managed money crowd
  • Show the image of the 1988 December daily corn futures chart.
  • Show the chart of managed money crowd
  • Show the image of U.S. corn yield chart.
    In point form show the following;
    2012 U.S. corn yields dropped from a record 164.7 in 2009 to 122.8 a drop of 41.9 bushels/acre.
  • Show the image of U.S. corn yield chart.
    In point form show the following;
    2012 U.S. corn yields dropped from a record 164.7 in 2009 to 122.8 a drop of 41.9 bushels/acre.
  • Show the image of U.S. corn yield chart.
    In point form show the following;
    2012 U.S. corn yields dropped from a record 164.7 in 2009 to 122.8 a drop of 41.9 bushels/acre.
  • Show the image of U.S. corn yield chart.
    In point form show the following;
    2012 U.S. corn yields dropped from a record 164.7 in 2009 to 122.8 a drop of 41.9 bushels/acre.
  • Show the image of U.S. corn yield chart.
    In point form show the following;
    2012 U.S. corn yields dropped from a record 164.7 in 2009 to 122.8 a drop of 41.9 bushels/acre.
  • Show the image of U.S. corn yield chart.
    In point form show the following;
    2012 U.S. corn yields dropped from a record 164.7 in 2009 to 122.8 a drop of 41.9 bushels/acre.
  • Show the image of U.S. corn yield chart.
    In point form show the following;
    2012 U.S. corn yields dropped from a record 164.7 in 2009 to 122.8 a drop of 41.9 bushels/acre.
  • Show the image of U.S. corn yield chart.
    In point form show the following;
    2012 U.S. corn yields dropped from a record 164.7 in 2009 to 122.8 a drop of 41.9 bushels/acre.
  • Show the image of U.S. corn yield chart.
    In point form show the following;
    2012 U.S. corn yields dropped from a record 164.7 in 2009 to 122.8 a drop of 41.9 bushels/acre.
  • Show the image of U.S. corn yield chart.
    In point form show the following;
    2012 U.S. corn yields dropped from a record 164.7 in 2009 to 122.8 a drop of 41.9 bushels/acre.
  • Show the image of U.S. corn yield chart.
    In point form show the following;
    2012 U.S. corn yields dropped from a record 164.7 in 2009 to 122.8 a drop of 41.9 bushels/acre.
  • Show the image of U.S. corn yield chart.
    In point form show the following;
    2012 U.S. corn yields dropped from a record 164.7 in 2009 to 122.8 a drop of 41.9 bushels/acre.
  • Show the image of U.S. corn yield chart.
    In point form show the following;
    2012 U.S. corn yields dropped from a record 164.7 in 2009 to 122.8 a drop of 41.9 bushels/acre.
  • Show the image of U.S. corn yield chart.
    In point form show the following;
    2012 U.S. corn yields dropped from a record 164.7 in 2009 to 122.8 a drop of 41.9 bushels/acre.
  • Show the image of U.S. corn yield chart.
    In point form show the following;
    2012 U.S. corn yields dropped from a record 164.7 in 2009 to 122.8 a drop of 41.9 bushels/acre.
  • Show the image of U.S. corn yield chart.
    In point form show the following;
    2012 U.S. corn yields dropped from a record 164.7 in 2009 to 122.8 a drop of 41.9 bushels/acre.
  • Show the image of U.S. corn yield chart.
    In point form show the following;
    2012 U.S. corn yields dropped from a record 164.7 in 2009 to 122.8 a drop of 41.9 bushels/acre.
  • Crops Day - Moe Agostino, 2014 Grain Outlook – Is $4.00 Corn the New Normal?

    1. 1. 2014 28th ANNUAL GREY BRUCE FARMERS WEEK – 2014 GRAIN MARKET OUTLOOK - IS $4.00 CORN NEW NORMAL? 1
    2. 2. 2012 GRAIN OUTLOOK: IS $7.00 CORN THE NEW NORMAL? 2
    3. 3. 2011 PRICE TARGETS (GAME PLAN) CROP PRICE FORECAST CORN SHORT-TERM (30-60 DAYS) $6.74 - $7.00 LONG-TERM (60 – 210 DAYS $7.00 - $7.50 SOYBEANS SHORT-TERM (30-60 DAYS) $12.50 - $13.00 LONG-TERM (60 – 210 DAYS) $13.50 $14.00 CANOLA SHORT-TERM (30-60 DAYS) $545 LONG-TERM (60 – 210 DAYS) $575 - $600 CHICAGO WHEAT SHORT-TERM (30-60 DAYS) $7.27 LONG-TERM (60 – 210 DAYS) $8.00 - $8.25 3
    4. 4. 2012 PRICE TARGETS (GAME PLAN) CROP PRICE FORECAST CORN DECEMBER FUTURES US $7.00 – $8.00 SOYBEANS NOVEMBER FUTURES US $14.00 - $15.00 CANOLA NOVEMBER FUTURES $600 - $630/MT CHICAGO WHEAT SEPTEMBER FUTURES $8.00 - $8.50 4
    5. 5. AGENDA Review of 2011 & 2012 U.S. DROUGHT 2013 similar to 1988 as a “SHORT CROP, LONG TAIL” year. 2014 Grain Supply & Demand (Fundamental) Outlook 14 Macro Economic Outlook (outside markets) & Global Trends 2014 Chart/Technical Outlook 2014 Ontario Basis Outlook 2014 Weather Outlook 2014 Bottom-line & Game Plan 2014 Price Outlook & Targets 5
    6. 6. MONTHLY LONG-TERM CORN CHART 6
    7. 7. U.S. DROUGHT PEAKED IN SEPTEMBER OF 2012 7
    8. 8. 2012 U.S. HEAT & DROUGHT DESTROYED U.S. CORN YIELDS 122.8 BPA 8
    9. 9. U.S. DROUGHT WORST IN 91 YEARS, JULY 16, 2012 9
    10. 10. WHAT A DIFFERENCE A YEAR MAKES JULY 2013 10
    11. 11. U.S. CORN YIELDS DATING BACK TO 1866 RARE & VERY UNUSUAL 11
    12. 12. 2012 QUALIFIES AS A “SHORT CROP, LONG TAIL YEAR” LIKE 1988 SHORT CROP LONG TAIL 12
    13. 13. 2012 “SHORT CROP, LONG TAIL” 13
    14. 14. MANAGED MONEY CROWD WERE RECORD LONG COMMODITY LONG OR SHORT (05/31/11) LONG OR SHORT (11/22/11) LONG OR SHORT (07/10/12) LONG OR SHORT (08/14/12) CORN LONG 328,112 LONG 149,084 LONG 201,956 LONG 303,178 SOYBEANS LONG 117,551 SHORT (8,622) LONG 250,792 LONG 230,545 WHEAT LONG 83,241 SHORT (50,582) LONG 62,468 LONG 77,104
    15. 15. 2013’S LONG TAIL GOT LONGER NEEDED TO SELL A YEAR IN ADVANCE 15
    16. 16. 2014 GRAIN OUTLOOK
    17. 17. 2014 JANUARY USDA WASDE REPORT BULLISH CORN, NEUTRAL SOYS & BEARISH WHEAT! 17
    18. 18. 2014 MARCH WEEKLY CORN FUTURES CONTRACT 18
    19. 19. PRE 2014 JANUARY WASDE REPORT - 2014 & 2015 U.S. CORN SUPLLY & DEMAND PROJECTIONS & OUTLOOK 19
    20. 20. PRE 2014 JANUARY WASDE REPORT - 2014 & 2015 U.S. CORN DEMAND PROJECTIONS & OUTLOOK 20
    21. 21. POST 2014 JANUARY USDA WASDE REPORT - 2014 & 2015 U.S. CORN SUPLLY & DEMAND PROJECTIONS & OUTLOOK 21
    22. 22. POST 2014 JANUARY USDA WASDE REPORT - 2014 U.S. CORN DEMAND PROJECTIONS & OUTLOOK 22
    23. 23. PRE 2014 JANUARY WASDE REPORT - 2014 & 2015 U.S. SOYBEAN SUPLLY & DEMAND PROJECTIONS & OUTLOOK 23
    24. 24. PRE 2014 JANUARY WASDE REPORT - 2014 & 2015 U.S. SOYBEAN DEMAND PROJECTIONS & OUTLOOK 24
    25. 25. POST 2014 JANUARY WASDE REPORT - 2014 & 2015 U.S. SOYBEAN SUPLLY & DEMAND PROJECTIONS & OUTLOOK 25
    26. 26. POST 2014 JANUARY WASDE REPORT - 2014 U.S. SOYBEAN DEMAND PROJECTIONS & OUTLOOK 26
    27. 27. PRE 2014 USDA JANUARY WASDE REPORT - 2014 & 2015 U.S. ALL WHEAT SUPLLY & DEMAND PROJECTIONS & OUTLOOK 27
    28. 28. PRE 2014 USDA JANUARY WASDE REPORT - 2014 & 2015 U.S. ALL WHEAT DEMAND PROJECTIONS & OUTLOOK 28
    29. 29. POST 2014 USDA WASDE REPORT - 2014 & 2015 U.S. ALL WHEAT SUPLLY & DEMAND PROJECTIONS & OUTLOOK 29
    30. 30. POST 2014 USDA WASDE REPORT - 2014 U.S. ALL WHEAT DEMAND PROJECTIONS & OUTLOOK 30
    31. 31. LONG-TERM WEEKLY CHART ON CHICAGO WHEAT FUTURES SOURCE: WWW.QTPLUS.COM 31
    32. 32. 2014 USDA AG OUTLOOK FORUM 32
    33. 33. 2014 USDA AG OUTLOOK FORUM 2013 PROJECTIONS 33
    34. 34. 2013/14 GLOBAL TRENDS 34
    35. 35. #1 LARGEST ECONOMY U.S. LOOKING BETTER GROWING AT 3.6% IN 13, +2.5% IN 2014 35
    36. 36. STOCK MARKETS CONTINUE TO CLIMB THE WALL OF WORRY TO NEW ALL TIME RECORD HIGHS, NEGATIVE FOR COMMODITIES BUT…. 2014 DJIA MARCH WEEKLY FUTURES CHART SOURCE: WWW.QTPLUS.COM
    37. 37. #2 LARGERST ECONOMY CHINA EXPECTED TO GROW AT +7.70+ IN 2013, +8.2% IN 2014 37
    38. 38. OPEC PROJECTING $100 – $110 ON INCREASED DEMAND, SUPPLY WILL WEIGH 2014 FEBRUARY WEEKLY CRUDE OIL FUTURES CHART SOURCE: WWW.QTPLUS.COM 38
    39. 39. HEATING OIL FUTURES HIGHER = HIGHER DIESEL FUEL PRICES 2014 FEBRUARY WEEKLY HEATING OIL FUTURES CHART SOURCE: WWW.QTPLUS.COM 39
    40. 40. STRONGER EUROPE, GROWTH IN 14 = HIGHER EURO $ 2014 MARCH WEEKLY EURO $ FUTURES CHART SOURCE: WWW.QTPLUS.COM 40
    41. 41. U.S. $ INDEX TRENDING LOWER, SUPPORT AT $80 2014 MARCH U.S. $ INDEX FUTURES CHART SOURCE: WWW.QTPLUS.COM 41
    42. 42. CDN $ TRENDING LOWER, SUPPORT AT $0.93 A $ YEAR LOW 2014 MARCH CANADIAN $ WEEKLY FUTURES CHART SOURCE: WWW.QTPLUS.COM 42
    43. 43. US TAPER WILL SLOW DOWN, BUT LABOR MARKET WEAK??? 43
    44. 44. RASING OF DEBT CEILING RISK OFF THE TABLE IN 2014, NO RECESSION FOR 12 – 24 MONTHS SOURCE: WWW.QTPLUS.COM 44
    45. 45. 2014 TECHNICAL CHART OUTLOOK 45
    46. 46. 2014 JULY CORN DAILY FUTURES CHART 46
    47. 47. 2014 DECEMBER CORN DAILY FUTURES CHART 47
    48. 48. 2014 JULY SOYBEAN DAILY FUTURES CHART 48
    49. 49. 2014 NOVEMBER SOYBEAN DAILY FUTURES CHART 49
    50. 50. 2014 JULY CHICAGO WHEAT DAILY FUTURES CHART 50
    51. 51. 2014 ONTARIO BASIS WATCH 51
    52. 52. 2013 & 2014 ONTARIO CORN BASIS 52
    53. 53. 2013 & 2014 ONTARIO SOYBEAN WATCH 53
    54. 54. 2013 & 2014 ONTARIO CHICAGO WHEAT (SRW) BASIS 54
    55. 55. 2013 WEATHER & CROP PROGRESS UPDATE 55
    56. 56. U.S. DROUGHT MONITOR MAP – U.S. AT 54% VS. 12 AT 74%
    57. 57. U.S. DROUGHT MONITOR MAP – U.S. MIDWEST AT 33% (BETTER BY 9% IN 1 MONTH) ABNORMALLY DRY VS. 12 AT 72%
    58. 58. BUT SOIL MOISTURE LOOKING GOOD
    59. 59. U.S. WINTER TO PROVIDE ABOVE NORMAL RAINFALL
    60. 60. U.S. MIDWEST SUMMER 2014 HOT & WET
    61. 61. U.S. TEMPS % PRECIPITATION NOVEMBER 2013 – OCTOBER 2014
    62. 62. BOTTOM-LINE 62
    63. 63. 2014 TRENDS TO WATCH 63
    64. 64. WATCH SPECULATORS REMAIN SHORT CORN & WHEAT, SOYS HAVE MOST TO LOSE AS FUNDS REMAIN LONG COMMODITY LONG LONG OR LONG OR LONG OR SHORT OR SHORT SHORT SHORT (06/18/12) (08/14/12) (03/05/13) (05/31/11) CORN LONG 328,112 LONG 43,024 LONG 303,178 LONG 62,864 LONG 82,517 SHORT 891,451 SOYBEANS LONG 117,551 SHORT 212,956 LONG 230,545 LONG 128,296 LONG 153,615 LONG 107,658 CHICAGO WHEAT LONG 83,241 SHORT (6,367) LONG 77, 104 SHORT 46,286 SHORT 16,697 SHORT 73,088 LONG OR LONG OR SHORT SHORT (06/11/13) (01/07/13)
    65. 65. WATCH CHINESE DEMAND (UP 5 FOLD IN 5 YEARS)
    66. 66. WATCH WEATHER NEEDS TO BE DRY EARLY FOR FUTURES TO RALLY
    67. 67. LOOK FOR A LOWR CDN $ FOR BASIS OPPORTUNITIES
    68. 68. 2013/14 OLD CROP BASIS TARGETS COMMODITY 01-09-14 BASIS/BU BASIS TARGET LEVEL/BU TO BOOK CORN -0.20 0.00 - +0.10 SOYBEANS +0.70 +1.00 - +1.20 CHICAGO WHEAT (SRW) -0.15 0.10 - +0.30
    69. 69. 2014/15 NEW CROP BASIS TARGETS COMMODITY 12/09/13 BASIS LEVEL/BU BASIS TARGET LEVEL/BU TO BOOK CORN -0.25 0.00 - +0.10 SOYBEANS +0.20 +40 - +0.60 CHICAGO WHEAT (SRW) -0.30 0.00 - +0.20
    70. 70. 2014 MARKETING GAME PLAN
    71. 71. 2013/14 OLD CROP FUTURES TARGETS COMMODITY FUTURES MONTH FUTURES TARGET PRICE UPDATE CORN JULY 2014 $5.00 - $5.50 SOYBEANS JULY 2014 $12.60 - $12.80 CHICAGO WHEAT JULY 2014 $7.00 - $7.25
    72. 72. 2014/15 NEW CROP FUTURES TARGETS COMMODITY FUTURES MONTH FUTURES TARGET PRICE UPDATE CORN DECEMBER 2014 $5.09 - $5.29 SOYBEANS NOVEMBER 2014 $12.03 - $12.28 CHICAGO WHEAT JULY 2014 $7.00 - $7.25
    73. 73. 2015/16 NEW CROP FUTURES TARGETS COMMODITY FUTURES MONTH FUTURES TARGET PRICE UPDATE CORN DECEMBER 2014 $5.12 - $5.29 SOYBEANS NOVEMBER 2014 $11.84 - $12.07 CHICAGO WHEAT JULY 2014 $7.04 - $7.27
    74. 74. THANK YOU QUESTIONS & DISCUSSION Please e-mail or call me at Maurizio (Moe) Agostino Farms.com Risk Management Managing Commodity Strategist 1-877-438-5729 Ext. 5040 Cell: 1-519-871-2134 E-mail: moe.agostino@farms.com 74
    75. 75. COMMODITY MARKETING THAT MAKES CENT$ 75

    ×