Stanford Grain will be closed Labor Day, Monday Sept 1st.
2014 Fall Policy is Available Click on 2014 Fall Policy-Bottom Left
Friday Afternoon Comments (8/29) Corn was defensive throughout the session today and through most of the week. Big yield expectations continue to weigh on futures. Nearby futures finished 2¾ cents lower with deferred months 4½ cents lower today. For the week CZ fell 6¾ cents but continues its sideways trade that started mid-July. No short covering by the funds of any note at month end, and they were net sellers of 5,000 corn contracts by mid-session. Very good early corn yields in the Delta and reports of 220+ bpa yields in central IL help bolster the idea a big crop is in the field. Private forecasts call for no frost threat until at least mid-September. Yield forecasts seem to be drifting higher again with 175-180 back in conversation. There are areas of the Midwest receiving too much rain right now, but the market not paying much attention. Weekly ethanol production fell a bit to 95.8 mln. bu. (estimated.) Weekly export sales of 26.1 mln. bu. (combined years) were disappointing but not unexpected. YTD commitments for 14/15 are just 391 mln. bu.
Soybeans continue to find pressure from a big crop in the field and SX finished the day 4 ½ cents weaker. SU firmed on strong interior basis levels and no deliveries, gaining 15¾ cents today. Funds were sellers of 3,000 soybean contracts by mid-session. For the week SX lost 18 cents. Late August rains have helped the soybean crop and yield ideas are building with 48 bpa being discussed. Weekly export sales (combined years) were 45.1 mln. bu. and 14/15 YTD commitments are ahead of last year at 764 mln. bu. 123 tmt in soybean sales for 14/15 reported this morning. 13/14 YTD sales are 1,691 mln. bu., and above USDA projections but a large chunk of these unshipped sales will be moved to 14/15.
Wheat found some support this week from the Ukrainian issue but ultimately only gained 1¼ cents this week in the Chicago December contract. Wheat has settled into a 25 cent range sideways trade since mid-July. Comments from Mid-Co Commodities Have a good & safe holiday weekend!
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Duracade Notice: If you are planting corn with the Duracade trait this spring and plan to haul it to Stanford Grain, please let us know. We will need to make arrangements to handle it. Thank You for your cooperation.