Grain Market Commentary for January 17, 2018

Commodity Period Price Weekly Movement
Corn CBOT March 3.53  04 cents
Soybeans CBOT March 9.69  15 cents
Wheat CBOT March 4.21  13 cents
Wheat Minn. March 6.12  22 cents
Wheat Kansas March 4.27  13 cents
Chicago Oats March 2.54  09 cents
Canadian $ March 0.8060  0.80 points

Continue reading “Grain Market Commentary for January 17, 2018”

Marty Hibbs is a grain merchandiser with Grain Farmers of Ontario. Hibbs is a 25 year veteran futures trader, analyst, and portfolio manager. He was a regular guest analyst on BNN for four years and is currently authoring the Market Side education series on futures trading basics in the Ontario Grain Farmer magazine.

Grain Market Commentary for January 10, 2018

Commodity Period Price Weekly Movement
Corn CBOT March 3.49  03 cents
Soybeans CBOT March 9.55  15 cents
Wheat CBOT March 4.34  02 cents
Wheat Minn. March 6.34  14 cents
Wheat Kansas March 4.40  03 cents
Chicago Oats March 2.45  06 cents
Canadian $ March 0.7984  0.01 points

CORN

Corn continues to track sideways as we are finding good support on at the $3.40 – $3.45 level on the March contract. Our weekly charts show a positive tone with a red buy signal from the middle of December. I am expecting the $3.40 level to be supportive as we move into the gap on the weekly chart. If however, we breach the $3.40 on a close we could see further downside to test a key support level at the $3.30 level on the weekly chart.

Indicators are still oversold and a move above the $3.50 level is necessary to start a rally with momentum heading into the spring.

Support is still seen at the $3.40 level on the March contract, while overhead resistance is seen at $3.50.

Short term indicators are still negative, with the continuation chart looking more constructive for a spring rally.

Short term indicators are still negative, with the continuation chart looking more constructive for a spring rally.

SOYBEANS

We have seen this scenario play out many times before as we watch the price swings from $9 support to the $10.25 resistance. There is no reason to think we will not test the $9 support level on the March contract yet again. However, my indicators are suggesting that this winding up of pressure will eventually cause an elastic effect on prices once we breach the $10.25 level on the next go round. There is a chance we may not get all the way back to $9 or, we may see a complete blow-off in prices and head towards the $8.50 level before an obvious reversal candle indicates that we have finally bottomed. I expect it will be a memorable moment as many traders get caught on the wrong side of the market. The funds will scramble to cover their multi-year shorts and possibly reverse their positions.

Support is seen on the March charts at the $9.50 level. A failure to hold this area could see a further decline towards the $9 – $9.20 level to retest that support area.

Short term indicators are still negative and the primary trend is still down.

WHEAT

Looking constructive is the key word to describe the wheat charts. While the daily March contract shows a red buy signal on January 3, the daily continuation chart has a well defined gap with a price support at the $4 level. December 15 shows a perfect marubozu or long white candle and the indicators are in oversold territory. This looks like a recipe for a bottom formation.

This is not to say that this is the bottom, but rather that we need to be aware that we are possibly close to the end of a muti-year bear market.

We will be watching the other markets for similar indicators.

Good support is seen around the $4 to $4.10 mark on the March futures chart. Overhead resistance is still viewed at $4.35.

Indicators are showing oversold conditions. Short term indicators are bullish, but the primary trend is still down.

Cash Grain prices as of the close, January 10, are as follows: SWW @ $188.96/MT ($5.14/bu), HRW @ $193.58/MT ($5.27/bu), HRS @ $244.25/MT ($6.65/bu), SRW @ $188.96/MT ($5.14/bu).

Marty Hibbs is a grain merchandiser with Grain Farmers of Ontario. Hibbs is a 25 year veteran futures trader, analyst, and portfolio manager. He was a regular guest analyst on BNN for four years and is currently authoring the Market Side education series on futures trading basics in the Ontario Grain Farmer magazine.

Grain Market Commentary for December 6, 2017

Commodity Period Price Weekly Movement
Corn CBOT March 3.52  01 cents
Soybeans CBOT January 10.03  10 cents
Wheat CBOT March 4.25  10 cents
Wheat Minn. March 6.14  09 cents
Wheat Kansas March 4.23  06 cents
Chicago Oats March 2.48  15 cents
Canadian $ December 0.7835  0.50 points

Corn

We have pretty much ended the week where we left off last week. Markets are still searching for the ever elusive bottom; and with the holidays fast approaching, and the last trading day for the December contract, I am asking Santa for a market reversal. I wonder if I was a good boy or if maybe we will find a lump of coal in that stocking.

There is nothing much to report except that we are still finding good support at these levels at $3.35. The question is whether we close below the $3.50 mark on the March contract, and see a sharp selloff, or maybe just take out the stops and give us a reversal candle.

Initial support is still seen at the $3.30 level on the December contract, while overhead resistance is seen at $3.60.

Short term indicators are still negative, and the primary trend is still down.

Soybeans

Although today, December 6 ended up with a minor loss, I am quite pleased at the chart formation and the indicators. On the week, we gained 10 cents a bushel on the January contract; but more important is the technical as we have broken the four-year-old down trend line and have two red buy signals. All we need now is an excuse to start moving higher.

A close above $10.25 on the January contract could set us up for some good upside over the next couple of months. Until we get a clear indication, we have to remain neutral.

Short term indicators are neutral with a bullish bias, and the weekly indicators favour a bullish tone into the new year. However, the primary trend is still down.

Wheat

Wheat once again tested the $4.20 support line on the March contract but the expiring December contract seems to be under pressure. This could cause some heavy selling pressure on that contract and the March may follow suit.

Good support is seen at $4.20 on the March futures chart, and as long as we don’t close below there, we could still escape the selloff if the December expiring contract drops hard in its last days. Overhead resistance is still viewed at $4.50.

Indicators are showing oversold conditions. Short term indicators are still negative and the primary trend is still down.

Cash Grain prices as of the close, December 6, are as follows: SWW @ $178.23/MT ($4.85/bu), HRW @ $187.61/MT ($5.11/bu), HRS @ $238.74/MT ($6.50/bu), SRW @ $182.92/MT ($4.98/bu).

Marty Hibbs is a grain merchandiser with Grain Farmers of Ontario. Hibbs is a 25 year veteran futures trader, analyst, and portfolio manager. He was a regular guest analyst on BNN for four years and is currently authoring the Market Side education series on futures trading basics in the Ontario Grain Farmer magazine.

Grain Market Commentary for November 29, 2017

Commodity Period Price Weekly Movement
Corn CBOT March 3.45  05 cents
Soybeans CBOT January 9.92  05 cents
Wheat CBOT March 4.35  17 cents
Wheat Minn. March 6.23  18 cents
Wheat Kansas March 4.31  06 cents
Chicago Oats March 2.63  04 cents
Canadian $ December 0.7785  0.80 points

Corn

We have switched our contract months for corn, oats, and wheat to March, as today is the first notice day for the December contracts. There is nothing much to report except that we did challenge the September 15 lows at $3.35 this week, and again found support on the March contract. The next obvious level of support is seen on both the March contract and weekly charts at the $3.30 level. Below there, the next support level is at the $3 level, should it be tested.

Initial support is still seen at the $3.30 level on the December contract, while overhead resistance is seen at $3.60.

Short term indicators are still negative, and the primary trend is still down.

Soybeans

The January soybeans contract closed positive again this week, and it looks like it is comfortable in the $10 level, while sitting on the trend line from 2015. A close above $10.25 on the January contract could set us up for some good upside over the next couple of months. The formation on the charts is suggesting a trend reversal in the coming weeks. Until we get a clear indication, we remain neutral; however, we did get the red buy signal on the weekly chart back in October, but we have yet to get any decisive upside movement.

Short term indicators are neutral, and the weekly indicators favour a bullish tone into the new year. However, the primary trend is still down.

Wheat

Wheat once again tested the $4.20 support line on the March contract and held nicely. The December contract which becomes a non evident for trading today, tested the much more important weekly trend line and it also held. At this point in the season we look for subtle hints that the worst is behind us in price and so far we see this to be in-line with our hopes. Once the December futures have been abandoned by the traders, we have only the real participants left in the market and we should start to see some premium flow into the March contract with anticipation of higher prices in the spring. Meanwhile this is definitely still very much a bear market as it has been for the past four plus years.

Solid support is seen at $4.20 on the March futures chart, while initial overhead resistance is viewed at $4.50.

Indicators are showing oversold conditions. Short term indicators are still negative and the primary trend is still down.

Cash Grain prices as of the close, November 29 , are as follows: SWW @ $183.98/MT ($5.01/bu), HRW @ $193.42/MT ($5.26/bu), HRS @ $244.52/MT ($6.65/bu), SRW @ $188.70/MT ($5.14/bu).

Marty Hibbs is a grain merchandiser with Grain Farmers of Ontario. Hibbs is a 25 year veteran futures trader, analyst, and portfolio manager. He was a regular guest analyst on BNN for four years and is currently authoring the Market Side education series on futures trading basics in the Ontario Grain Farmer magazine.

Grain Market Commentary for November 22, 2017

Commodity Period Price Weekly Movement
Corn CBOT December 3.45  07 cents
Soybeans CBOT January 9.97  22 cents
Wheat CBOT December 4.23  03 cents
Wheat Minn. December 6.27  02 cents
Wheat Kansas December 4.21  03 cents
Chicago Oats December 2.51  17 cents
Canadian $ December 0.7830  0.10 points

Corn

With the U.S. Thanksgiving long weekend we will have a short trading week, but I never under estimate the surprises on a long weekend – especially the Thanksgiving weekend. I’m not suggesting that something magical is going to happen, but for my 30 years as a broker, I have noticed that these long weekends can bring surprises, especially when they fall on the same weekend as the options expiry and the harvest is all but complete. Meanwhile, there is nothing much to report except we did challenge the September 15 lows at $3.35 this week and rebounded quite nicely.

Initial support is still seen at the $3.30 on the December contract, while overhead resistance is seen at $3.60.

Short term indicators are still negative, and the primary trend is still down.

Soybeans

The January soybeans contract closed positive and oh so close to the $10 trend line. Like the other grains, we could see some surprises with the long weekend and the completion of the harvest. A close above $10.25 on the January contract could set us up for some good upside over the next couple of months. Until we see that, we will continue to probe the downside for a bottom.

Both short and medium term indicators are negative, and the primary trend is still down.

Wheat

Wheat has been very comfortable in this $4.20 range and as long as the December support holds at or above $4.15 on the close, I feel we will soon see some upside. The indicators are showing oversold conditions and unless we stay in this area for the first notice day, which is November 1, we should see some upside in the coming weeks. The recent price action has channeled the futures price into a pennant formation which should break in one direction within the next week. Let’s hope that direction is up.

Solid support is seen at $4 on the December chart, while initial overhead resistance is viewed at $4.40.

Indicators are showing oversold conditions. Short term indicators are still negative and the primary trend is still down.

Cash Grain prices as of the close, November 22 , are as follows: SWW @ $183.42/MT ($4.99/bu), HRW @ $192.75/MT ($5.25/bu), HRS @ $250.63/MT ($6.82/bu), SRW @ $188.09/MT ($5.12/bu).

Marty Hibbs is a grain merchandiser with Grain Farmers of Ontario. Hibbs is a 25 year veteran futures trader, analyst, and portfolio manager. He was a regular guest analyst on BNN for four years and is currently authoring the Market Side education series on futures trading basics in the Ontario Grain Farmer magazine.

Grain Market Commentary for November 15, 2017

Commodity Period Price Weekly Movement
Corn CBOT December 3.38  10 cents
Soybeans CBOT January 9.75  15 cents
Wheat CBOT December 4.20  02 cents
Wheat Minn. December 6.25  11 cents
Wheat Kansas December 4.18  02 cents
Chicago Oats December 2.69  02 cents
Canadian $ December 0.7835  0.60 points

Corn

Another sideways to down week as the December corn futures contract closed below our support level of $3.40 and is ready to challenge the next support level of $3.30. This $3 support is more significant as it is the last line of defense between $3.30 and the big number support of $3, the low of 2016. We have the first notice day in about two weeks, and if the December futures fail to stay above the $3.30 level on any close, there is a very good chance we could see the December sell off into the first part of December. That would lead to a new contract low before it expires later in December.

Initial support is still seen at the $3.30 on the December contract, while overhead resistance is seen at $3.60.

Short term indicators are still negative, and the primary trend is still down.

Soybeans

Soybeans came under pressure again this week after failing once again to close above our main resistance in the $10.25 level on the January contract. We lost almost forty cents per bushel this week on the January contract and we also received a red sell signal on the daily contract. This is not a good signal in the short term as we have several indicators working against us. The failure to close above the $10.25 level, the main trend line running across the same area, and finally the red sell signal we received this past week. It is difficult to predict how much lower prices will go, but usually a blow-off in the form of large sales is associated during harvest time if there is a chance the markets are ready to reverse. It is my experience that a multi-year bear market does not go away quietly. The good news is that if we get the big selloff into the harvest, there is a good chance the downside will be limited going forward into the spring of 2018.

Both short and medium term indicators are negative, and the primary trend is still down.

Wheat

Wheat had a surprisingly good week when compared to the other grains. Week over week we actually gained two cents per bushel since our last week’s commentary. It seems like our downside can be plotted as we move forward into the soybean and corn harvest as both are pressured by overwhelming carry-outs and yields and are thereby succumbing to downward pressure on prices. Two lines of support that are seen on the futures contracts exist at the $4.15 level on the December futures and the $4 level which is sitting on the weekly chart trend line going back to September 2016. My past experience has taught me that the turning of any long term trend usually comes with a lot of drama. In the case of grains, this could be viewed as a final washout that would take prices to scary places on the downside before the bear trend is neutralized. But technical analysis usually gives a good signal when this actually has been completed. This is what we have yet to see. I am watching closely and will be alerting our readers when this signal shows up. Meanwhile, as we have repeated for the past 3.5 years that I have been writing these commentaries, we are in a bear market and should consider it so until the trend actually turns.

Solid support is seen at $4 on the December chart, while overhead resistance is viewed at $4.40.

Short term indicators are still negative and the primary trend is still down.

Cash grain prices as of the close, November 15 are as follows: SWW @ $182.95/MT ($4.98/bu), HRW @ $192.33/MT ($5.23/bu), HRS @ $251.44/MT ($6.84/bu), SRW @ $187.64/MT ($5.11/bu).

Marty Hibbs is a grain merchandiser with Grain Farmers of Ontario. Hibbs is a 25 year veteran futures trader, analyst, and portfolio manager. He was a regular guest analyst on BNN for four years and is currently authoring the Market Side education series on futures trading basics in the Ontario Grain Farmer magazine.

Grain Market Commentary for November 9, 2017

Commodity Period Price Weekly Movement
Corn CBOT December 3.41  07 cents
Soybeans CBOT January 9.85  06 cents
Wheat CBOT December 4.29  10 cents
Wheat Minn. December 6.48  35 cents
Wheat Kansas December 4.16  13 cents
Chicago Oats December 2.73  02 cents
Canadian $ December 0.7892  1.20 points

Corn

The USDA report was released at noon today, Thursday November 9, and the summary is as follows. Corn yield held a big surprise in that the production was increased by 3.6 bushels per acre, which was more than a bushel per acre above the highest trade estimate. Production was considered large as well, with the production up 300 million bushels to 14.576 billion bushels. The report sent the December contract back to test the all-important $3.40 level one more time.

Initial support is still seen at the $3.40 level and again near $3.30 on the December contract, while overhead resistance is seen at $3.60.

Short term indicators are still negative, and the primary trend is still down.

Soybeans

The monthly report showed little change for the beans, but there was a small surprise: the trade was expecting a slight decline in yields, but it was unchanged. The report seemed to be the excuse why we failed once again to break through and close above the $10.25 mark on the January contract for the second time this month.

Today’s action created a long black reversal candle that suggests we have more downside work to complete before we attempt another try at the $10 overhead trend line.

Indicators are mixed as we see short term indicators with a downward bias, while the medium term indicators are showing strength and are signalling a run at our four year old trend line.

Support is seen at $9.40, and our overhead resistance is at the $10 – $10.25 area on the January contract.

Wheat

Wheat seemed to fare the best from today’s USDA report, as the only change was a 25 million bushel increase in the 2017/2018 exports, while carryout was the same 25 million bushels. The December traded in a 10 cent range for the entire session and it seems that the $4.15 support line on the December futures is still intact. As long as this support holds on the December contract we should see some upside in the coming weeks.

Solid support is seen at $4 on the December chart, while overhead resistance is viewed at $4.60.

Short term indicators are still negative and the primary trend is still down.

Cash grain prices as of the close, November 9 are as follows: SWW @ $185.79/MT ($5.06/bu), HRW @ $195.11/MT ($5.31/bu), HRS @ $259.37/MT ($7.06/bu), SRW @ $190.45/MT ($5.18/bu).

Marty Hibbs is a grain merchandiser with Grain Farmers of Ontario. Hibbs is a 25 year veteran futures trader, analyst, and portfolio manager. He was a regular guest analyst on BNN for four years and is currently authoring the Market Side education series on futures trading basics in the Ontario Grain Farmer magazine.

Grain Market Commentary for November 1, 2017

Commodity Period Price Weekly Movement
Corn CBOT December 3.48  03 cents
Soybeans CBOT January 9.91  06 cents
Wheat CBOT December 4.18  10 cents
Wheat Minn. December 6.14  08 cents
Wheat Kansas December 4.16  16 cents
Chicago Oats December 2.71  07 cents
Canadian $ December 0.7770  0.40 points

Corn

The good news this week is that we are about to test the $3.40 level on the December chart for the third time in as many weeks. If this holds, we could see a rally that could be slow but solid over the next few months. The bad news though is more convincing at this point because the major support line on the weekly charts, is down at near $3 based on the front month futures. To add to the negative side of this equation, we are still staring at our red sell signal from the last week of August on the weekly chart and if our triple bottom attempt at the $3.40 should fail, there is a good chance we could be looking at the $3.30 area before the December contract expires. Hopefully, this will not be the case and we can see some upside once the harvest pressure is abated.

Initial support is still seen at the $3.40 and again near $3.30 on the December contract, while overhead resistance is seen at $3.60.

Short term indicators are still negative, and the primary trend is still down.

Soybeans

We have been range-bound on soybeans for the past week but the charts are encouraging. The four year old weekly trend line, cuts across the $10 level on the lead month contract. This is where we are currently on the January futures contract. Once the harvest is complete, we could actually challenge that line in the sand and if we manage a convincing close above the $10 level, we may indeed be ready for a January rally of some significance.

Our red buy signal from last week on our weekly charts is still intact.

Indicators are mixed as we see short term indicators with a downward bias while the medium term indicators are showing strength and are signalling a run at our four year old trend line.

Personally, I feel a close above the $10.25 level on the January contract would be the first confirmation that this four-year-old trend-line is in trouble.

Support is seen at $9.40 and our overhead resistance is at the $10 – $10.25 area on the January contract.

Both short and medium term indicators are positive, but the primary trend is still down.

Wheat

Last week’s concerns have come to fruition as we have ventured into new low territory on the December Chicago wheat futures. This was not a surprise given the weekly chart and we are now looking at a more supportive target as we approach the $4 trend line on the weekly chart. The $4 bottom on the weekly chart from September 1 should hold and when we see an indicator that the technicals are reversing, we will look for higher prices into the new year.

Short term indicators are still negative and the primary trend is still down.

Harvest 2017 prices as of the close, November 1 are as follows: SWW @ $183.62/MT ($5.00/bu), HRW @ $193.07/MT ($5.25/bu), HRS @ $247.66/MT ($6.74/bu), SRW @ $188.34/MT ($5.13/bu).

Marty Hibbs is a grain merchandiser with Grain Farmers of Ontario. Hibbs is a 25 year veteran futures trader, analyst, and portfolio manager. He was a regular guest analyst on BNN for four years and is currently authoring the Market Side education series on futures trading basics in the Ontario Grain Farmer magazine.

Grain Market Commentary for October 25, 2017

Commodity Period Price Weekly Movement
Corn CBOT December 3.51  03 cents
Soybeans CBOT November 9.75  12 cents
Wheat CBOT December 4.35  05 cents
Wheat Minn. December 6.22  12 cents
Wheat Kansas December 4.32  04 cents
Chicago Oats December 2.76  08 cents
Canadian $ December 0.7811  2.10 points

Corn

The December Corn contract made a double bottom this week on our charts. This is somewhat supportive as we tested last week’s lows of $3.40 which was also the December contract lows. This support should allow some upside in the short term and possibly challenge the $3.60 mark on the December futures. This would open the possibility of a larger rally into the month of November. The big issue I see with any sizeable rally is the red sell signal we received near the end of August and the fundamentals of a sizeable harvest.

Support is still seen at the $3.40 level on the December contract, while overhead resistance is seen at $3.60.

Short term indicators are still negative, and the primary trend is still down.

Soybeans

As expected, we got our pullback in prices on the November contract this week after flirting with our $10 resistance area. The 25 cent correction allows us to gain some momentum for another shot at the big round $10 number. This week we were encouraged as we were given a red buy signal last week on our weekly charts. Our double bottom formation on our January chart allows us the potential to challenge the $10.50 level sometime in November. We will be switching to the January futures in soybeans for our next report.

We are still expecting much higher prices in 2018, but we will need to close above $10.50 on the lead month contract to negate a three year old trend line and begin the ascent.

Support is seen at $9.40 and our overhead resistance is at the $10 mark on the November contract. Both short and medium term indicators are positive, but the primary trend is still down.

Wheat

We mentioned in our last commentary that the recent lows in the December wheat contract would soon be tested, and it came to pass this week as we successfully tested $4.23 on October 23. It is too early to tell if this bottom will hold, but for now, we are trading at $4.35 on the December contract. The only concern I have is that we missed running the stops below the market by less than one penny. On the positive side, the day that the low was challenged was an outside day suggesting that we should see higher prices in the short term.

For now, the $4 bottom on the weekly chart from September 1 is still lurking and only time will tell if this major support will need to prove itself before we get a true price reversal.

Initial support still sits at $4.20 with solid support at $4 on the December chart, while overhead resistance is viewed at $4.60. Short term indicators are still negative and the primary trend is still down.

Harvest 2017 prices as of the close, October 18 are as follows: SWW @ $190.74/MT ($5.19/bu), HRW @ $200.14/MT ($5.45/bu), HRS @ $249.99/MT ($6.80/bu), SRW @ $195.43/MT ($5.32/bu).

Marty Hibbs is a grain merchandiser with Grain Farmers of Ontario. Hibbs is a 25 year veteran futures trader, analyst, and portfolio manager. He was a regular guest analyst on BNN for four years and is currently authoring the Market Side education series on futures trading basics in the Ontario Grain Farmer magazine.

Grain Market Commentary for October 18, 2017

Commodity Period Price Weekly Movement
Corn CBOT December 3.48  01 cents
Soybeans CBOT November 9.84  08 cents
Wheat CBOT December 4.30  01 cents
Wheat Minn. December 6.10  02 cents
Wheat Kansas December 4.28  02 cents
Chicago Oats December 2.68  06 cents
Canadian $ December 0.8025  0.10 points

Corn

Corn actually ran the stops on the December contract lows last week and closed the day higher. This is a good initial move to allow higher prices in the coming weeks. The only problem with this short sighted plan is that the weekly continuation chart shows a low of $3.28 as the old bottom, while the daily December chart now still shows contract lows are $3.40.

With the harvest well under way, we will need more bearish news if the markets plan to slip below last week’s stops; and if that were to happen, there is a better than average chance that we will indeed challenge the $3.28 lows for the 2017 crop year. Support is still seen at the $3.40 level on the December contract, while overhead resistance is seen at $3.60.

Short term indicators are still negative, and the primary trend is still down.

Soybeans

We had our pop towards the $10 mark as indicated in last week’s commentary. We are now getting a check back in prices but the bullish formation is still intact. We are still expecting much higher prices in 2018 and this week we received a red buy signal on our weekly charts.

Support is seen at $9.40 and our overhead resistance is at the $10 mark on the November contract.

Both short and medium term indicators are now positive, but the primary trend is still down.

Wheat

We mentioned in our last commentary that the recent lows in the December wheat contract would soon be tested, and as of October 18 we are trading at $4.30 per bushel. Our recent bottom is pegged at $4.28 with our contract low being recorded at $4.22 and our weekly chart shows $4 as the yearly low. Either way, we have several targets in our sights and hopefully one of them will signal a bottoming action for some price relief.

For now, the $4 bottom on the weekly chart from September 1 could be the required test for support. Initial support still sits at $4.20 with solid support at $4 on the December chart, while overhead resistance is viewed at $4.60.

Short term indicators are still negative and the primary trend is still down.

Harvest 2017 prices as of the close, October 18 are as follows: SWW @ $183.15/MT ($4.98/bu), HRW @ $192.30/MT ($5.23/bu), HRS @ $238.09/MT ($6.48/bu), SRW @ $187.72/MT ($5.11/bu).

Marty Hibbs is a grain merchandiser with Grain Farmers of Ontario. Hibbs is a 25 year veteran futures trader, analyst, and portfolio manager. He was a regular guest analyst on BNN for four years and is currently authoring the Market Side education series on futures trading basics in the Ontario Grain Farmer magazine.