Stanford Grain Company
               309-379-2141 Tel 866-379-2141 Toll-free
                             207 West Main Street - Stanford IL 61774 
              
Monday, February 27, 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

Monday Morning Comments (2/27)
Good Morning.  Grain prices are mixed with corn and beans trying to manage some small gains this morning while wheat is lower.  Another month end comes around tomorrow, which also mean another first notice day.  FND for March futures is tomorrow so keep an eye on March positions today, especially those on the long side.  The USDA Ag Outlook forum wrapped up on Friday, which seemed to be perceived as a little on the negative side.  Despite lower production numbers due to lower yield expectations for 17/18, ending stocks weren’t lowered much.  Corn ending stocks for 17/18 were lowered by just 105 Mln. bu. to 2.215 Bln.  Bean stocks were unchanged at 420 Mln. bu.  Wheat stocks were adjusted lower to 905 Mln. bu., with stocks this year currently at 1.139 Bln. bu.  The commitment of traders report on Friday showed corn funds got longer by 6800 contracts.  The wheat funds continue to lighten their short position.  They bought a net of 12,662 contracts and now are showing a net short position of 27,385 contracts.  The bean funds are still big net longs, but did lower it by 16K.  The outside markets are quiet as they await President Trump’s speech tomorrow night.  The cattle on feed report on Friday showed the 3rd month in a row of big placements.  Placements for January were 11% higher than a year ago.  Plenty of cattle should be coming to market this summer.  Export inspections are out today.  The turn of the calendar on Wednesday means more talk of acreage with the prospective plantings report on March 31st.   The trade is still looking for some 4 Mln. less corn acres, and some 3 to 5 Mln. more bean acres.  Spring weather will likely play some role, but it is hard for the USDA to pick that up in March.  The Argentina weather looks good for the next couple of weeks.  Some harvest delay could be seen in Brazil due to heavy rains, but they are ahead of schedule so it shouldn’t be much of a problem in the near term.  Bean yields are very good there.  The spring price option for crop insurance is the average of the new crop prices for February, so that will wrap up as well tomorrow.  With prices still well off their highs, it should be quiet times for the producer.  However, March is considered one of the busier months for money needs, so we’ll see what gives. 

Comments from Mid-Co Commodities

Have a good & safe day!

You can't go wrong doing the right thimg.
Kevin Brown

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Local Cash Bids
 
  Feb March April July Fall 17 Jan 18
STANFORD CORN Cash Price
Basis
Futures Month @C7H @C7H @C7K @C7N @C7Z @C8H
  Chart Chart Chart Chart Chart Chart
BEANS Cash Price
Basis
Futures Month @S7H @S7H @S7K @S7N @S7X @S8F
  Chart Chart Chart Chart Chart Chart
WHEAT Cash Price          
Basis          
Futures Month       @W7N    
  Chart
Price as of 02/27/17 12:14PM CST.
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Futures
@C - CORN - CBOT
Month Open High Low Last Change Close Time More
Mar 17 364'2 365'4 359'4 360'4 -3'4 364'0 12:02P Chart for @C7H Options for @C7H
May 17 371'0 372'4 367'2 368'2 -2'4 370'6 12:02P Chart for @C7K Options for @C7K
Jul 17 378'4 380'0 374'6 375'6 -2'4 378'2 12:02P Chart for @C7N Options for @C7N
Sep 17 384'6 386'0 381'2 382'0 -2'4 384'4 12:02P Chart for @C7U Options for @C7U
Dec 17 391'4 392'6 388'0 388'6 -2'2 391'0 12:02P Chart for @C7Z Options for @C7Z
Mar 18 399'2 401'0 397'0 397'4 -2'0 399'4 12:02P Chart for @C8H Options for @C8H
May 18 404'0 404'0 400'4 401'0 -1'6 402'6 12:02P Chart for @C8K Options for @C8K
Jul 18 406'0 407'0 404'0 404'2 -1'4 405'6 12:02P Chart for @C8N Options for @C8N
@S - SOYBEANS - CBOT
Month Open High Low Last Change Close Time More
Mar 17 1015'4 1018'4 1006'0 1010'0 -3'4 1013'4 12:02P Chart for @S7H Options for @S7H
May 17 1026'2 1029'2 1017'0 1021'0 -3'2 1024'2 12:02P Chart for @S7K Options for @S7K
Jul 17 1035'4 1038'0 1025'4 1029'4 -3'6 1033'2 12:02P Chart for @S7N Options for @S7N
Aug 17 1034'4 1037'2 1025'4 1029'2 -3'6 1033'0 12:02P Chart for @S7Q Options for @S7Q
Sep 17 1022'4 1022'4 1015'0 1015'2 -3'6 1019'0 12:02P Chart for @S7U Options for @S7U
Nov 17 1008'0 1011'4 1001'2 1004'4 -2'4 1007'0 12:02P Chart for @S7X Options for @S7X
Jan 18 1012'2 1014'4 1005'6 1009'2 -2'4 1011'6 12:02P Chart for @S8F Options for @S8F
Mar 18 1012'4 1016'4 1007'4 1007'4 -5'0 1012'4 12:02P Chart for @S8H Options for @S8H
@W - WHEAT - CBOT
Month Open High Low Last Change Close Time More
Mar 17 430'0 431'0 418'6 420'4 -10'6 431'2 12:02P Chart for @W7H Options for @W7H
May 17 446'4 447'6 438'2 439'6 -8'2 448'0 12:02P Chart for @W7K Options for @W7K
Jul 17 460'6 461'6 452'6 454'4 -7'4 462'0 12:02P Chart for @W7N Options for @W7N
Sep 17 475'6 475'6 468'0 469'4 -7'4 477'0 12:02P Chart for @W7U Options for @W7U
Dec 17 495'0 495'2 487'0 488'6 -6'6 495'4 12:02P Chart for @W7Z Options for @W7Z
Mar 18 506'2 506'2 500'0 500'4 -7'6 508'2 12:02P Chart for @W8H Options for @W8H
@DX - US DOLLAR INDEX - ICEFU
Month Open High Low Last Change Close Time More
Mar 17 101.155 101.280 100.680 100.930 - 0.160 101.090 12:02P Chart for @DX7H Options for @DX7H
Jun 17 101.040 101.220 100.625 100.835 - 0.205 101.040 12:03P Chart for @DX7M Options for @DX7M
Sep 17 100.905 100.945 100.870 100.870 - 0.030 100.900 12:03P Chart for @DX7U Options for @DX7U
EB - BRENT CRUDE - ICEEC
Month Open High Low Last Change Close Time More
Apr 17 55.96 56.77 55.96 56.10 0.11 55.99 12:03P Chart for EB7J Options for EB7J
May 17 56.32 57.06 56.28 56.57 0.26 56.31 12:03P Chart for EB7K Options for EB7K
Jun 17 56.53 57.27 56.52 56.84 0.29 56.55 12:03P Chart for EB7M Options for EB7M
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