If that sounds good to you, call your "Settlement Elevator" to learn the details! Current offerings include: AgriVisor Insight, CHS Compass, Average Pricing, and Option Based Contracts. As always "Offers" are a very good way to manage both your time and your marketing.
PLEASE BE AWARE: In light of recent developments we have re-evaluated our policy regarding acceptance of corn with traits that are not approved for worldwide consumption. To protect access for all Premier members to all available markets we will NOT be accepting Duracade® corn grown in 2014. A letter was sent to all patrons the week of March 3, 2014 to further explain Premier’s position.
Corn Close - The corn market finished the week with quiet action, trading just as it has all week. The market chopped around in lower territory in light volume all session long. Weakness in the wheat market seemed to contribute to the mostly lower action in corn today. Late buying brought the market up to near unchanged. After the close, March corn was steady/lower at $4.10.
Soybean Close - The soybean market gave back most of yesterday's gains today in quiet action. The market worked a little higher overnight, but spend the day session ratcheting lower. South American weather continues to be a negative on the market. After the close, January soybeans were 4 cents lower at $10.30, which was 7-8 cents off the lows.
Wheat Close - Follow through weakness overnight seemed to pretty well set the tone in the wheat market today. General profit taking seemed to be the culprit heading into a weekend with more Russian uncertainty. Yesterday's close, well off the highs left the feel of a blow off top on the charts, which added to today's weakness. After the close, March wheat was 22 cents lower at $6.33, while KC was down 17.
On Friday, trading sources say Informa Economics estimates 2015 U.S. corn acreage at 88.01 million acres vs. (prior report 88.3 mln), 2014 acreage of 91.641 mln.
On Friday, trading sources say Informa Economics estimates 2015 U.S. soybean acreage at 88.78 million acres vs. (prior report 88.3 mln), 2014 acreage of 84.839 mln.
On Friday, trading sources say Informa Economics estimates 2014/15 U.S. winter wheat acreage at 42.3 million acres
China officially announced the approval of Bayer CropScience’s LL55 Liberty Link soybean variety (after 7 years) and they will also accept syngenta’s GMO MIR 162.
-- US Ag Secretary Vilsack reported yesterday that China had approved Syngenta's GMO MIR 162 Corn for import. Traders in China say the government will likely delay the issuance of import quotas to private mills until March or April as new regulations require buyers to first purchase Corn from state reserves before receiving quotas.
-- The EIA reported weekly Ethanol production at 990,000 barrels per day up 2,000 barrels per day from last week. Ethanol stocks came in at 17.6 million barrels up 91,000 barrels per day. -- The USDA reported weekly Egg sets were up 2% from the same week a year ago while Broiler placements were up 3% from the same week a year ago. -- The USDA will release its Cattle on Feed report Friday. Average estimates: On Feed 101.1% Placements 96.2% Marketings 90.1% -- South Korea bought 69,000 mt. opt. org. Corn for April.
**The USDA baseline projection estimates have 2015/16 U.S. corn plantings at 88.0 million acres with production projections at 13.445 billion bushels. Soybeans were pegged at 84.0 million acres, production 3.820 billion and all wheat plantings at 56.0 million for an all wheat production of 2.155 billion bushels. **USDA baseline projections show 2015/16 ending stocks for corn at 1.733 billion, soybean ending stocks at 519 million bushels and wheat ending stocks at 700 million.
HAVE A PREMIER DAY The information contained in this report is believed to be reliable but is not guaranteed to accuracy or completeness by Premier Cooperative, Inc. This report is provided for information purposes only and is not furnished for the purpose of, nor intended to be relied upon for specific trading in commodities here in.
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