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This Week in Grain- 9/28 Afternoon Update

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This Week In Grain (T.W.I.G)Good afternoon friends,

Dec Corn – 329’0  (-2’6)

Nov Beans – 946’0 (-6’4)

Dec KC Wheat – 420’6 (+1’4)

Dec Chi Wheat – 402’6 (-1’4)

Dec Cotton – 68.68 (-1.06)

Nov WTI – 46.40 (+1.72  as of 1:18 pm)

Grains were boring as ever today, with corn, wheat and soybeans trading near opening ranges. Corn, beans and Chi wheat closed near their lows while the KC and Minny contracts closed near highs.  There is an obvious bid for quality going on with the Minny and KC blowing out to near term highs vs the Chicago contract in December.

In the pod today:

  • The OPEC meeting in Algeria appears to have ended in an agreement. Crude is up 2.00 (!) since the news was released.
  • There is a bid for protein going on in the wheat markets.  KC vs Chi trades up to 1 year highs on the Dec contract
  • DEMAND!  Mexico buys 1.6 MMT of corn, China buys 350 KMT of beans. US port offers for corn is right above where Russia is offering feed wheat, which is supportive.
  • Cotton gets stepped on as conditions appear more friendly for the weeks ahead.

We have trade recs out in corn and cotton, call the desk with questions 866-825-8561

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About John Payne

John Payne is a Senior Futures & Options Broker and Market Strategist with Daniels Trading. He is the publisher of the grain focused newsletter called This Week in Grain, along with being a co-editor of Andy Daniels’s newsletter, Grain Analyst. He has been working as a series 3 registered broker since 2008.

John graduated from the University of Iowa with a degree in economics. After school, John embarked on a 4 year career with the United States Navy. It was during two tours in Iraq and the Persian Gulf where John realized how important commodities are to the survival of society as we know it. It was this understanding that brought about John’s curiosity in commodities. Upon his honorable discharge in 2007, John’s intense interest in the world of commodities inspired him to move to Chicago and pursue his passion in a career in the futures arena.

After a three year position with a managed futures firm specialized in livestock trading, he was given the opportunity to join the team at Daniels Trading. Being in the business and seeing how other IB’s operated, it was the integrity and straightforward approach of the Daniels management team and brokers that attracted him to make the move. Since joining Daniels, John has broadened his fundamental and technical analysis of the markets even further. John has been writing his newsletter This Week in Grain under the Daniels banner since 2011.

Working in high pressure industries like the military and capital markets, John has learned the value of preparation in times of stress. He believes that instilling within his clients the value of a good plan and a cool head for dealing with the day to day swings of commodity markets. He treats every client as a teammate, understanding that his job is to help clients achieve their goals, whatever they may be.

John is a proud supporter of the Iraq and Afghanistan Veterans of America, the Veterans of Foreign Wars and the National Corn Growers Association. When he is not working, he enjoys athletics of all kinds and spending time with his wife and their two kids.

John’s commentary is featured in the following publications:

* All Ag Radio – Sirius Channel 80
* AM 880 KRVN – Lexington, Nebraska
* RFD TV
* Wall Street Journal
* Barron’s
* China News Daily (English version)