Stanford Grain Company
               309-379-2141 Tel 866-379-2141 Toll-free
                             207 West Main Street - Stanford IL 61774 
              
Wednesday, March 29, 2017
 
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CBOT Trading Hours:
7:00PM-7:45AM-Markets Open (Sun-Thurs)
7:45AM-8:30AM-Markets Closed
8:30AM-1:15PM-Markets Open
1:15PM-7:00PM-Markets Closed
Daily Limits: Corn 25 cents, Beans 70 cents, & Wheat 30 cents

Tuesday Afternoon Comments (3/28)
Corn futures traded slightly higher today on short-covering in front of Friday’s reports. As of midday, funds were estimated to have bought approximately 2,000 contracts of corn. Friday will bring the March 31st Prospective Plantings and Grain Stocks reports. The average trade guesses call for corn acres at 90.9 mln. and corn inventories as of March 1st at 8.543 bln. bu. Although NASS’s weekly crop progress reports don’t start until next Monday, individual state reports yesterday afternoon showed Texas farmers ahead of their average planting pace with 45% of their corn in the ground. Corn in Louisiana is 80% planted versus a 5-year average of 48%, and progress in Mississippi is at 30% versus 4% last year. On Monday, Georgia confirmed it’s first-ever case of bird flu in commercial poultry per their agriculture department. Officials in the southern producing states are limiting trade in an attempt to stop further outbreak. In South America, rains are expected across much of Brazil this week which should set up their 2nd corn crop quite nicely. Rains are also expected in Argentina where less than 10% of the Argentine corn has been harvested. In addition, reports are circulating that Mexican officials continue to meet with trade representatives from South America to discuss options for sourcing corn as concerns increase regarding deteriorating relations with the U.S. and potential changes to NAFTA. Most of Illinois, Iowa and Wisconsin have had a drier than average March, despite recent rains. This morning’s 7 day expected rainfall maps show heavy rain for most of the dry areas of Oklahoma, Kansas and Nebraska with the northern parts of the Midwest remaining on the dry side. Temperatures are expected to run near to slightly above average.

Soybean futures started the day firmer and were able to end the session marginally higher on short-covering. This was the first time bean futures have closed higher since March 21st. Soybeans have been getting into oversold territory and are not far from testing the November low at $9.68. Friday will bring the March 31st Prospective Plantings and Grain Stocks reports. The average trade guesses call for soybean acres at 88.3 mln. and bean inventories as of March 1st at 1.676 bln. bu. Weather in South America continues to be mostly favorable. Safras & Mercado estimate the Brazilian bean harvest at 70% complete, as of March 24th, which is slightly ahead of both last year and the five year average pace. The Argentine bean harvest is just beginning, with about 2% of the crop cut. Rains are expected in Argentina and will likely delay harvest there but traders at this point are not concerned that producers will fall behind. Farmer selling in South America has picked up recently as their bean harvest wraps up and Brazilian producers have enjoyed a favorable shift in currency terms.

Comments from Mid-Co Commodities

Have a good & safe night!

When you don't give up, you can not fail.
Unknown

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Local Cash Bids
 
  March April May July Fall 17 Jan 18
STANFORD CORN Cash Price
Basis
Futures Month @C7K @C7K @C7K @C7N @C7Z @C8H
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BEANS Cash Price
Basis
Futures Month @S7K @S7K @S7K @S7N @S7X @S8F
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WHEAT Cash Price          
Basis          
Futures Month       @W7N    
  Chart
Price as of 03/29/17 12:10AM CDT.
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Futures
@C - CORN - CBOT
Month Open High Low Last Change Close Time More
May 17 357'2 358'0 357'0 357'4 -0'2 357'6 03/28 Chart for @C7K Options for @C7K
Jul 17 364'6 365'4 364'4 365'4 0'0 365'4 03/28 Chart for @C7N Options for @C7N
Sep 17 372'6 373'0 372'4 372'6 -0'4 373'2 03/28 Chart for @C7U Options for @C7U
Dec 17 381'0 381'4 380'6 381'4 -0'2 381'6 03/28 Chart for @C7Z Options for @C7Z
Mar 18 390'4 390'6 390'4 390'6 -0'2 391'0 03/28 Chart for @C8H Options for @C8H
May 18 395'2 396'6 395'2 395'4 1'6 396'4s 03/28 Chart for @C8K Options for @C8K
Jul 18 399'0 400'2 398'6 399'4 1'4 400'0s 03/28 Chart for @C8N Options for @C8N
Sep 18 394'2 394'2 394'0 394'0 1'2 393'6s 03/28 Chart for @C8U Options for @C8U
@S - SOYBEANS - CBOT
Month Open High Low Last Change Close Time More
May 17 970'4 972'0 969'4 971'0 -1'0 972'0 03/28 Chart for @S7K Options for @S7K
Jul 17 980'4 982'2 980'0 981'6 -0'4 982'2 03/28 Chart for @S7N Options for @S7N
Aug 17 983'4 984'2 982'0 983'0 -1'2 984'2 03/28 Chart for @S7Q Options for @S7Q
Sep 17 975'2 975'2 974'4 974'4 -2'4 977'0 03/28 Chart for @S7U Options for @S7U
Nov 17 971'0 972'0 970'0 971'2 -1'0 972'2 03/28 Chart for @S7X Options for @S7X
Jan 18 976'4 980'2 975'6 975'6 1'0 977'4s 03/28 Chart for @S8F Options for @S8F
Mar 18 979'0 979'2 979'0 979'2 -0'4 979'6 03/28 Chart for @S8H Options for @S8H
May 18 983'4 985'0 982'0 982'0 0'6 983'0s 03/28 Chart for @S8K Options for @S8K
@W - WHEAT - CBOT
Month Open High Low Last Change Close Time More
May 17 424'0 425'4 423'6 425'0 0'4 424'4 03/28 Chart for @W7K Options for @W7K
Jul 17 436'6 438'2 436'6 438'2 0'6 437'4 03/28 Chart for @W7N Options for @W7N
Sep 17 451'0 453'0 451'0 452'6 0'2 452'4 03/28 Chart for @W7U Options for @W7U
Dec 17 472'4 473'0 472'0 472'6 0'2 472'4 03/28 Chart for @W7Z Options for @W7Z
Mar 18 485'0 487'6 485'0 487'2 3'0 487'2s 03/28 Chart for @W8H Options for @W8H
May 18 491'6 496'4 491'6 496'0 3'6 495'6s 03/28 Chart for @W8K Options for @W8K
@DX - US DOLLAR INDEX - ICEFU
Month Open High Low Last Change Close Time More
Jun 17 99.560 99.630 99.495 99.560 0.011 99.549 12:00A Chart for @DX7M Options for @DX7M
Sep 17 99.380 99.430 99.360 99.360 -0.029 99.389 12:00A Chart for @DX7U Options for @DX7U
Dec 17 99.240 99.240 99.240 99.240 0.001 99.239 12:00A Chart for @DX7Z Options for @DX7Z
EB - BRENT CRUDE - ICEEC
Month Open High Low Last Change Close Time More
May 17 51.43 51.56 51.36 51.48 0.15 51.33 12:00A Chart for EB7K Options for EB7K
Jun 17 51.49 51.63 51.45 51.59 0.17 51.42 12:00A Chart for EB7M Options for EB7M
Jul 17 51.75 51.86 51.69 51.82 0.16 51.66 12:00A Chart for EB7N Options for EB7N
My Custom Markets
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Temp: 43oF Feels Like: 37oF
Humid: 87% Dew Pt: 39oF
Barom: 30.19 Wind Dir: ENE
Cond: N/A Wind Spd: 10 mph
Sunrise: 6:43 Sunset: 7:17
As reported at BLOOMINGTON, IL at 11:00 PM
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