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Ag Hedge Daily Newsletter

2/25/2016
- Good morning from Chicago Get expert perspective on today's Ag markets from some of the most respected names in the industry. Zaner experts have been quoted in Dow Jones Newswires, AgWeb.com, Top
Producer, CME, CBOT & MGEX exchange publications, Futures Magazine, Stocks and Commodities Magazine, Forbes, BarChart.com, Tradingmarkets.com, CommodityTrader.com,
Financial Engineering News, Risk Controlled Investing and many other publications. Feel free to call us at: 312-277-0113 for more information.
Learn more about our Ag Hedge services
Note: Futures, options and forex trading is speculative in nature and involves substantial risk of loss. This material is conveyed as a solicitation for entering into a derivatives
transaction.

IMPORTANT NOTICES

OPENING CALLS

Feb 25: Export Sales at 7:30am
Feb 28: Export Inspections at 10:00am – First Notice for March Chi, KC, MN wheat, corn, soybeans, soyoil, soymeal
March 1: Grain Crushing at 2:00pm
March 9: Crop Production/WASDE

Corn:

up 0-1

Wheat:

up 2-4

Beans:

up 2-4

Cattle:
Hogs:
US $:
Crude:

GRAINS

52 Week
High

468-4 on
07/14/15

52 Week
High

631-2 on
06/30/15

52 Week
High

1034-0 on
07/14/15

52 Week
Low

354-2 on
01/07/16

52 Week
Low

446-4 on
02/24/16

52 Week
Low

853-4 on
11/23/15

20 Day MA 369-6

20 Day MA 468-6

20 Day MA 877-2

50 Day MA 369-5

50 Day MA 476-0

50 Day MA 877-1

100 Day MA 378-7

100 Day MA 491-3

100 Day
MA

883-2

up .100
down .10

Corn: ---Night Session Close: May up 0’6 at 365’2 – Dec up 0’4 at 384’2
Opening the night at 364’4, May posted a session low on the open. Closing the previous day on trend line support, May opened near the same trend which stands at 364’2.
Further support is likely from the Feb-11/12 double bottom at 363’2 with additional support likely in the 362 region as is gap support down to 362’0. Trading to a session high of
366’4, trend resistance may be found near 366’0 while the 10 day moving average stands at 367’4 and the previous session high stands at 367’6.
Soybeans: ---Night Session Close: May up 3’2 at 875’4 – Nov up 3’4 at 886’2
Opening the night at 872’0, May traded to a session low of 870’0, short of the previous session low of 869’2. Trend line support may be found near 865’6 while the Feb-09 low of
863’4. Trading to a session high of 876’2, trend line resistance stands at 876’6, below the 10, 20, and 50 day moving averages’ that are clustered from 877-879; 100 day stands at
883’2.
Wheat: ---Night Session Close: May up 4’0 at 455’2 – Sept up 3’0 at 474’2
Opening the night at 452’4, May traded to a session low of 451’4. Support is possible at the fresh contract and 52 week low of 446’6; further support is possible in the 440 region.
Posting a session high at 455’6, resistance in the 455 region is likely while trend line resistance stands at 455’6 with the previous session high standing at 456’2.

News:
--- Export Sales
Wheat range 200,000-400,000; actual of 387,900 for 15/16 and 98,300 for 16/17
Corn range 700,000-1,200,000; actual of 934,400 for 15/16 and 131,800 for 16/17
Soybean range 300,000-700,000; actual of 328,300 for 15/16 and 300 for 16/17
Soymeal range 100,000-250,000; actual of 171,700 for 15/16 and 900 for 16/17
Soyoil range 5,000-20,000; actual of 3,200 for 15/16
--- Ethanol Production
Average production of 994,000 barrels per day with a weekly corn consumption of 104.37 million bushels. Total ethanol production for the week stands at 6.958 million barrels with
stocks falling to 23.105 million barrels vers 23.218 last week; down 0.49% on the week and up 7% vers last year. Demand rose from 6.563 to 7.071 million barrels while average
profit margins remain negative but mostly unchanged vers last week.
--- Chinese stocks struggled through the night and finished down another 6%.
--- On Wednesday, the traditional funds bought 2,000 soybeans and 2,000 soyoil; sold 2,000 corn and 2,000 wheat. They are estimated to be net short 44,500 soybeans, 44,800
soymeal, 148,000 corn and 99,000 wheat; estimated to be net long 48,900 soyoil.
--- 2016 USDA Ag Outlook Conference Average Estimates -- Bloomberg
Corn acres 89.689; range 88.3-92.5; production 13.719; 16/17 ending stocks 1.891
Soybean acres 83.345; range 82-85; production 3.821; 16/17 ending stocks 516
Wheat acres 52.374; range 51-56; production 2.015; 16/17 ending stocks 1.005
2016 USDA Ag Outlook Conference Average Estimates -- Reuters
Corn 89.6 million
Soybeans 83.3 million
2015 Planting Acres
Corn 88 million
Soybeans 82.7 million
Wheat 54.6 million
--- USDA Projections
Farm Exports at 125 Billion
Corn price of 3.45/bu with acres are 90 million
Soybean price at 8.50/bu with acres at 82.5 million
Wheat price at 4.20/bu with acres at 51 million
--- Brian

For more information, questions, or comments feel free to contact us or follow our team on Twitter:
Ted Seifried -- (312) 277-0113 -- tseifried@zaner.com -- @TheTedSpread
Tim Hackbarth -- (312) 277-0110 -- thackbarth@zaner.com -- @AgHedgingone
Brian Grossman -- (312) 277-0119 -- bgrossman@zaner.com -- @AgHedgeGrossman

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MEATS

52 Week
High

155.100 on
06/23/15

52 Week
High

213.075 on
06/01/15

52 Week
High

82.525 on
07/07/15

52 Week
Low

123.050 on
12/17/15

52 Week
Low

142.550 on
12/17/15

52 Week
Low

70.250 on
11/16/15

20 Day MA 133.595

20 Day MA 154.650

20 Day MA 80.095

50 Day MA 132.882

50 Day MA 155.546

50 Day MA 78.497

100 Day
MA

100 Day
MA

100 Day
MA

134.412

162.701

77.350

LINKS

Cash Grain Bids

US Weather

South American Weather

In this newsletter we do not email specific trade recommendations. As each client's situation is unique, we craft strategies to fit our individual client's needs. Please feel free to call us
at 312-277-0113 for a personalized recommendation.