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Futures Deliveries and the Food Supply

All but 2 contracts of Corn was re-delivered and those were held by R.J. O’Brien. So at this point not in very “strong hands.” (I define strong hands as bonified hedgers or in this instance users of product). The earliest Open Long Date has moved up to 02/27/2020

Well, all the Soybean Meal was re-tendered so at this point not in very “strong hands,” as well. Earliest Open Longs is 4/1/2020

Of the 1466 contracts tendered in Soybean Oil only 1032 came back into the delivery cycle. It looks like ADM held on to most of what they stopped. Earliest Open Long is 4/29/2020

The 7 loads of Rough Rice were held while 65 more issued by R J O’Brien who incidentally stopped those as well. Earliest Open Long is 4/14/2020

All of the KC Wheat was re-tendered and the next available date is 04/20/2020.

You can listen to an update by USDA Secretary Sonny perdue on the food supply here https://www.usda.gov/sonnyside#episode8

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