LADIES MARKETING MEETING Tuesday, March 10 @ 9:00 AM at Champaign Office
FREE PRICE LATER :
now available (through 8/31/15) on corn and beans delivered out of your bins on space available basis. Call your local elevator for details . GRAIN DELIVERIES TO DILLSBURG are limited due to construction. Please call Shane Drayer at 217 280-0851 or Frank Sylvester 892-2200 for details.
PLEASE BE AWARE: Premier is not accepting Duracade® corn grown in 2014.
Corn traded in a 5 cent range today and closed steady to 1½ cents higher, which is somewhat impressive considering weakness in beans and wheat. Funds were buyers of 3,000 contracts mid-session. Corn is finding some support on concern over planted acreage this spring. At least today, corn/wheat spreading also lent support. A bit of a stretch, but there is isolated concern over logistics and weather in Brazil and the possible negative impact these will have regarding their getting the second corn crop planted in a timely fashion. Weekly export sales came in at 32.6 mln. bu. and bring YTD commitments to 1,403 mln. bu., 75 mln. bu. below last year’s pace. Unshipped sales stand at 659 mln. bu. Japan, Saudi Arabia, Columbia, and Mexico accounted for most of the sales. Wheat continues its freefall, closing 12-15 cents lower on good world supply and lack of demand news. Chicago WH came within 1 cent of its contract low today and funds were sellers of 4,500 wheat contracts by mid-day. Weekly export sales were 17.3 mln. bu., bringing YTD commitments to 801 mln. bu., 251 mln. bu. below last year’s level.
Soybeans traded in a 13 cent range and closed mostly 9 cents lower. Funds were sellers of 3,000 bean, 1,000 meal, and 3,000 soyoil contracts at mid-session. Lack of urgency in S. America regarding logistics (truck strike/port supplies), weather, and production continues to weigh on futures. Declining U.S. gulf values also likely adding some negative influence as it shows U.S. export program finally slowing in the face of large S.A. production. Brazilian weather currently on the wet side but expected to improve and Argentina is expecting good weather over the next couple of weeks at least. Brazilian farmer has been an active seller of soybeans this harvest on attractive currency valuations. Brazil bean harvest estimated at 40% complete with Argentina just getting started. Weekly U.S. export sales came in at 18.4 mln. bu., well above what is needed weekly to meet USDA projections, and brings YTD commitments to 1,750 mln. bu. vs. 1,623 mln. bu. last year. China and Mexico the buyers of note.
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.
The future prices and elevator bids on this web site are delayed. For the current bids please check with your local elevator.
Premier Cooperative's bids are alway subject to change without notice from this web site.