Stanford Grain Company
               309-379-2141 Tel 866-379-2141 Toll-free
                             207 West Main Street - Stanford IL 61774 
              
Saturday, September 20, 2014
 
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Friday Afternoon Comments (9/19)
There was a bit of a bounce in the corn market as we started the week on some short covering due to FSA acreage reports implying a drop in planted acres versus current USDA projections. (Range of estimates is a slight decline to over 2 million acres.) This was quickly offset by continuous reports/expectations of fantastic yields the balance of the week. Today was no exception as corn closed 6-7 cents lower. Funds were sellers of 4,000 contracts by mid-session. For the week, CZ lost 7 cents though the week’s decline felt more severe, possibly due to the fact CZ is now trading new contract lows and there are analysts calling for another 20+ cent downside risk. Demand is currently overlooked as everyone talks yield, and another large increase in average yield is expected in the October S&D report. USDA currently has average yield at 171.7 bpa and there are estimates approaching 180 bpa. Weekly ethanol report showed corn usage at 97.8 mln. bu. Weekly export sales of 26.0 mln. bu. did little to excite the trade but we did sell 14.8 mln. bu. of corn to Mexico for 14/15. Harvest weather "bottom line" is expected to be good over the next two weeks with the first half of October also expected to be good. The hurricane in the gulf the first week of October forecast quickly dissipated. Informa’s latest estimate for 2014 planted corn acreage is 89.3 mln., -2.3 mln. from USDA. Production is 14,024 mln. bu. 2015 corn acres are estimated at 87.3 mln. acres.

Soybeans also found some support early in the week on acreage reduction concerns (no change to a 1.1 mln. acre decline the range of estimates) but as with corn the support did not last and fund selling/lower trade ruled the balance of the week. Soybeans fell 14-15 cents today with funds sellers of 4,000 contracts by mid-session. For the week SX fell 28 cents (after losing 36 cents last week) and there are estimates SX can make a run to the $9.00 area. The announced sale of 45.4 mln. bu. of beans to China for 14/15 was viewed as old news today, though YTD export commitments (not counting this sale) stand at a very solid 936 mln. bu. Harvest weather does not seem an issue for soybeans and the trade is focused on how large the crop may be – there are yield estimates approaching 50 bpa in the trade! Informa’s latest soybean acreage estimate is 83.7 mln., -1.2 from the UDSA projection. This equates to 3,857 mln. bu. of production using current yield estimates. 2015 U.S. soybean acres are estimated at 87.7 mln. acres.

Wheat defensive in sympathy with corn and wheat with WZ down 14 cents today and 28 cents for the week (after losing 33 cents last week.) Informa’s 2014 wheat production estimate of 2,046 mln. bu. is very close to USDA’s 2,029 mln. bu. Their estimate of 2015 wheat acres is 57.0 mln.


 Comments from Mid-Co Commodities
Have a good & safe night!

ACH Payments are now available. 
Call for details or to sign up.

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.   

 

 


Local Cash Bids
 
  Sept Fall Jan 15 Fall 15 Jan 16
STANFORD CORN Cash Price
Basis
Futures Month @C4Z @C4Z @C5H @C5Z @C6H
  Chart Chart Chart Chart Chart
BEANS Cash Price
Basis
Futures Month @S4X @S4X @S5F @S5X @S6F
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Price as of 09/20/14 02:59PM CDT.
Month Symbols
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Futures
@C - CORN - CBOT
Month Open High Low Last Change Close Time More
Dec 14 338'0 338'2 331'4 331'6 -6'6 331'4s 09/19 Chart for @C4Z Options for @C4Z
Mar 15 350'2 350'6 344'0 344'0 -6'4 344'2s 09/19 Chart for @C5H Options for @C5H
May 15 359'0 359'0 352'6 352'6 -6'2 353'0s 09/19 Chart for @C5K Options for @C5K
Jul 15 366'0 366'0 359'6 360'0 -6'2 360'0s 09/19 Chart for @C5N Options for @C5N
Sep 15 373'2 373'2 367'2 367'6 -6'4 367'4s 09/19 Chart for @C5U Options for @C5U
Dec 15 384'0 384'0 378'2 378'6 -5'6 378'4s 09/19 Chart for @C5Z Options for @C5Z
Mar 16 393'6 393'6 387'6 387'6 -6'0 387'6s 09/19 Chart for @C6H Options for @C6H
May 16 400'4 400'4 394'2 394'2 -6'0 394'4s 09/19 Chart for @C6K Options for @C6K
@S - SOYBEANS - CBOT
Month Open High Low Last Change Close Time More
Nov 14 971'2 972'0 956'0 957'6 -14'4 957'0s 09/19 Chart for @S4X Options for @S4X
Jan 15 979'0 979'6 964'2 966'0 -14'2 965'2s 09/19 Chart for @S5F Options for @S5F
Mar 15 987'0 987'0 971'4 973'0 -14'2 972'6s 09/19 Chart for @S5H Options for @S5H
May 15 994'0 994'2 978'4 980'2 -14'6 979'4s 09/19 Chart for @S5K Options for @S5K
Jul 15 1000'4 1000'4 984'6 986'0 -15'0 985'4s 09/19 Chart for @S5N Options for @S5N
Aug 15 999'2 999'2 987'4 989'6 -14'4 988'2s 09/19 Chart for @S5Q Options for @S5Q
Sep 15 990'0 990'0 977'0 978'0 -14'4 977'6s 09/19 Chart for @S5U Options for @S5U
Nov 15 983'6 985'2 970'0 971'4 -14'6 970'4s 09/19 Chart for @S5X Options for @S5X
@W - WHEAT - CBOT
Month Open High Low Last Change Close Time More
Dec 14 487'6 488'2 473'6 474'2 -14'0 474'4s 09/19 Chart for @W4Z Options for @W4Z
Mar 15 505'2 505'2 490'2 490'4 -14'6 491'0s 09/19 Chart for @W5H Options for @W5H
May 15 515'6 515'6 502'2 502'2 -14'6 502'4s 09/19 Chart for @W5K Options for @W5K
Jul 15 525'2 525'2 511'4 511'6 -14'0 512'0s 09/19 Chart for @W5N Options for @W5N
Sep 15 536'0 536'4 524'4 524'4 -13'2 525'0s 09/19 Chart for @W5U Options for @W5U
Dec 15 552'2 552'4 542'0 542'0 -13'4 541'6s 09/19 Chart for @W5Z Options for @W5Z
+DJ - DJ INDUSTRIAL AVERAGE - CBOT
Month Open High Low Last Change Close Time More
Sep 14 17374.00 17374.00 17374.00 17374.00 109.32 17369.32s 09/19 Chart for +DJ4U Options for +DJ4U
Dec 14 17206.00 17277.00 17180.00 17220.00 34.00 17212.00s 09/19 Chart for +DJ4Z Options for +DJ4Z
Mar 15 17143.00 31.00 17143.00s 09/19 Chart for +DJ5H Options for +DJ5H
@DX - US DOLLAR INDEX - ICEFU
Month Open High Low Last Change Close Time More
Dec 14 84.370 84.935 84.335 84.935 0.435 84.865s 09/19 Chart for @DX4Z Options for @DX4Z
Mar 15 84.520 85.040 84.500 84.970 0.410 84.995s 09/19 Chart for @DX5H Options for @DX5H
Jun 15 85.135 85.135 85.135 85.135 0.410 85.140s 09/19 Chart for @DX5M Options for @DX5M
EB - BRENT CRUDE - ICEFE
Month Open High Low Last Change Close Time More
Nov 14 97.65 98.49 97.18 98.38 0.69 98.39s 09/19 Chart for EB4X Options for EB4X
Dec 14 98.31 99.12 97.91 99.00 0.67 99.03s 09/19 Chart for EB4Z Options for EB4Z
Jan 15 98.89 99.68 98.57 99.58 0.63 99.58s 09/19 Chart for EB5F Options for EB5F
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High: 82°F
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Temp: 82oF Feels Like: 86oF
Humid: 65% Dew Pt: 69oF
Barom: 29.87 Wind Dir: SW
Cond: N/A Wind Spd: 21 mph
Sunrise: 6:41 Sunset: 6:56
As reported at BLOOMINGTON, IL at 2:00 PM
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