January WASDE Summary
January WASDE report brings bullish supply side surprises for row crops while wheat holds steady on increase in planted acres and steady global stocks. The decrease in yield and carryout for corn and beans lit a fire under nearby contracts, and those gains held through the session. New crop Dec corn had a muted respose, closing up 3 cents, vs 14-15 cent moves on the old crop months. New crop Nov beans closed up 17 cents on the day vs impressive 26-27 cent moves on the nearbys. Wheat could not get caught up in the frenzy and settled mid-range for the session with Chicago slightly lower and KC 1-2 cents higher.
If you have any questions, please reach out to your CEA Risk Management Advisor and have a great day!
Matt Hartwell
(316) 617-0690
