Thanksgiving Schedule Wednesday: Regular Business & Market Hours Thursday-Thanksgiving Day: Stanford Grain & Markets are Closed Friday: Open 8A-1P (Office Only) Markets Open 8:30AM-Noon
Friday Afternoon Comments (11/27)
Corn was unable to extend Wednesday’s gains in this holiday shortened trading session as outside influences dominated trading. CZ settled 6 ¾ cents lower with CH down 5 ½ cents. A stronger Dollar provided pressure to the markets as did a lower wheat trade and yet another day of falling crude oil prices. Seemingly ignored by the market today was a bullish weekly export report released prior to the market’s 8:30 AM opening. That report showed old crop corn exports at a marketing year high 80.2 million bu. with new crop sales of 20.8 million bu. This moves total 2015-16 exports to 653 million bu. which is 195 million bu. less than the year-ago level. The report combined with the fact that U.S. corn is now competitive in world markets gives hope that the sluggish export pace has ended.
Soybean futures traded both sides of unchanged today but ultimately ended the session weaker. January futures were 15 ½ cents a bushel firmer from a week ago. For the month, the January contract was 12 ¾ cents weaker. Low volume trade combined with a stronger U.S. dollar weighed on prices. A mostly favorable South American forecast also continues to hang over the soy complex, limiting gains, as the dry areas of Brazil are expected to receive some rainfall. This should be favorable for the development of their earlier planted beans. U.S. weekly bean export sales were solid this morning coming in at 43.0 mln. bu. Sales currently stand at 68.7% of the USDA’s forecast. There are 40 weeks left in the marketing year and sales need only average 13.4 mln. bu. a week in order to meet the USDA’s annual export projection.
Trading this week: Regular trading hours and schedules through Wednesday. Board closed Thanksgiving. No overnight session Thursday night. Market reopens Friday morning at 8:30 AM and closes at 12:05 PM.
Have a good & safe weekend!
During Thanksgiving, be in an attitude of graditude. Unknown
The Stanford Grain Co. is hosting a Market Outlook meeting on Tuesday, Dec. 15th at the Allin Twsp. Building beginning at 8AM. Aaron Curtis from Mid-Co Commodities will be giving the presentation. Cory Winstead, from AgriVisor, will give a presentation about marketing programs that are available at Stanford Grain for the 2016 & 2017 crops. Chris Miller from the Lincoln weather station will also give a presentation. Coffee & Donuts will be served We hope you are able to attend.
ACH Payments are now available. Call for details or to sign up.