Stanford Grain Company
               309-379-2141 Tel 866-379-2141 Toll-free
                             207 West Main Street - Stanford IL 61774 
              
Sunday, November 18, 2018
 
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Thanksgiving Market & Elevator Schedule:
Wednesday, Nov 21st: Normal market & elevator hours.
Thursday, Nov 22nd: Markets & elevator closed. (no overnight trading session)
Friday, Nov 23rd: Markets open 8:30am-12:05pm.  Elevator (office only) open 8:00am-12:30pm.
 
CBOT Trading Hours:
7:00PM-7:45AM-Markets Open (Sun-Thurs)
7:45AM-8:30AM-Markets Closed
8:30AM-1:20PM-Markets Open
1:20PM-7:00PM-Markets Closed
Daily Limits: Corn 25 cents, Beans 60 cents, & Wheat 35 cents

Friday Afternoon Comments (11/16/18)

Corn closed 3 cents lower in uninspired trade. For the week CZ lost 5 cents. Funds hold an estimated long position of 15,000 contracts. Harvest progress kicked back in this week and Monday’s progress report should reflect this and would expect harvest 90%+ complete. Producers are sellers of corn coming off the combine, at least to some degree, but once harvest stops for them, so apparently does selling interest. A range bound futures trade is not generating much excitement. The weekly ethanol report showed continued good usage of corn but crush margins remain worrisome. In export announcements this week Mexico picked up 212 tmt. Weekly export sales this morning at the upper end of expectations but still a bit disappointing at 35.1 mln. bu. (we need 36 mln. bu. a week in sales to meet USDA projections.) YTD commitments are 922 mln. bu. vs. 801 mln. bu. last year. Japan and Mexico the main buyers this week. These two countries account for 54% of known destination sales.

Soybeans closed 3 cents higher as mid-morning tweets rallied the board from moderate losses. For the week SF gained 5 cents. Funds are estimated short 52,000 contracts. Soybean harvest able to resume in limited fashion this week. Yesterday’s on again off again news updates regarding U.S. not implementing additional tariffs on China roiled the markets and more of the same this morning with President Trump tweeting China wants to "make a deal" and more tariffs may not be necessary. Trade soybean futures at your own peril, which is what producers, in essence, are doing as they hold a huge percentage of U.S. soybean ownership. Weekly export announcement added up to 425 tmt of sales to unknown destinations and the NOLA Oct crush report was record large at 172.35 mln. bu. Weekly export sales came in at 17.3 mln. bu. with YTD commitments at 817 mln. bu. vs. 1,197 mln. bu. last year. We need 26 mln. bu. of sales a week to meet USDA export projections. Japan and the Netherlands the buyers of note and China cancelled 7.1 mln. bu. of purchases. Brazil weather is too wet in some areas but still viewed as beneficial to crop development and Argentina is expecting rain next week.

Wheat futures were mixed today with Chicago WZ up 5 cents this week. Weekly export sales at 16.1 mln. bu., bringing YTD commitments to 521 mln. bu. vs. 617 mln. bu. last year. Funds continue to hold an estimated short position of 50,000 contracts. The trade continues to watch for export sales improvement as a marker that futures can rally. 

 

Comments from Mid-Co Commodities

7-day precip forecast (Nov 16-Nov 23)
https://www.wpc.ncep.noaa.gov/qpf/p168i.gif?1542372565
Have a good & safe weekend!

Honoring the sacrifices many have made for our country in the name of freedom and democracy is the very foundation of Veterans Day.
Charles B. Rangel

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  Nov Dec Jan 19 Feb Mar Fall 19 Jan 20
STANFORD CORN Cash Price
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Futures Month @C8Z @C8Z @C9H @C9H @C9H @C9Z @C0H
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BEANS Cash Price
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Futures Month @S9F @S9F @S9F @S9H @S9H @S9X @S0F
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Price as of 11/18/18 04:08AM CST.
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Futures
@C - CORN - CBOT
Month Open High Low Last Change Close Time More
Dec 18 367'2 368'6 363'2 364'6 -2'6 364'6s 11/16 Chart for @C8Z Options for @C8Z
Mar 19 378'0 379'6 374'0 375'2 -2'4 375'6s 11/16 Chart for @C9H Options for @C9H
May 19 385'4 386'6 381'4 382'6 -2'2 383'4s 11/16 Chart for @C9K Options for @C9K
Jul 19 392'2 393'2 388'4 390'0 -2'4 390'0s 11/16 Chart for @C9N Options for @C9N
Sep 19 393'6 394'4 390'4 392'0 -1'6 392'0s 11/16 Chart for @C9U Options for @C9U
Dec 19 398'6 399'6 396'2 397'6 -1'0 398'0s 11/16 Chart for @C9Z Options for @C9Z
Mar 20 407'2 408'2 405'4 407'2 -0'4 407'2s 11/16 Chart for @C0H Options for @C0H
May 20 411'6 412'6 411'6 412'6 -0'4 412'6s 11/16 Chart for @C0K Options for @C0K
@S - SOYBEANS - CBOT
Month Open High Low Last Change Close Time More
Jan 19 889'6 894'6 881'6 892'4 3'4 892'2s 11/16 Chart for @S9F Options for @S9F
Mar 19 902'6 908'2 895'2 905'6 3'4 905'6s 11/16 Chart for @S9H Options for @S9H
May 19 916'0 921'0 908'4 919'0 3'2 918'6s 11/16 Chart for @S9K Options for @S9K
Jul 19 928'4 933'2 921'0 930'4 2'4 930'4s 11/16 Chart for @S9N Options for @S9N
Aug 19 932'4 937'0 926'2 935'0 2'2 934'6s 11/16 Chart for @S9Q Options for @S9Q
Sep 19 933'0 937'4 927'2 934'0 1'2 934'2s 11/16 Chart for @S9U Options for @S9U
Nov 19 936'4 941'2 930'6 936'4 0'4 937'2s 11/16 Chart for @S9X Options for @S9X
Jan 20 947'0 950'2 943'2 950'2 0'2 947'4s 11/16 Chart for @S0F Options for @S0F
@W - WHEAT - CBOT
Month Open High Low Last Change Close Time More
Dec 18 505'2 508'6 502'6 506'6 1'2 506'6s 11/16 Chart for @W8Z Options for @W8Z
Mar 19 513'6 516'6 511'6 515'4 0'4 515'2s 11/16 Chart for @W9H Options for @W9H
May 19 522'4 524'6 520'2 522'6 -0'6 522'2s 11/16 Chart for @W9K Options for @W9K
Jul 19 531'2 533'0 529'0 530'6 -1'0 530'6s 11/16 Chart for @W9N Options for @W9N
Sep 19 542'4 543'6 540'0 541'6 -1'0 541'2s 11/16 Chart for @W9U Options for @W9U
Dec 19 556'6 558'0 555'0 556'2 -0'6 555'6s 11/16 Chart for @W9Z Options for @W9Z
@DX - US DOLLAR INDEX - ICEFU
Month Open High Low Last Change Close Time More
Dec 18 96.890 96.920 96.260 96.310 -0.458 96.333s 11/16 Chart for @DX8Z Options for @DX8Z
Mar 19 96.265 96.320 95.700 95.750 -0.458 95.763s 11/16 Chart for @DX9H Options for @DX9H
Jun 19 95.725 95.725 95.270 95.340 -0.458 95.238s 11/16 Chart for @DX9M Options for @DX9M
EB - BRENT CRUDE - ICEEC
Month Open High Low Last Change Close Time More
Jan 19 66.68 68.38 66.06 67.10 0.14 66.76s 11/16 Chart for EB9F Options for EB9F
Feb 19 67.00 68.57 66.32 67.32 0.14 67.03s 11/16 Chart for EB9G Options for EB9G
Mar 19 67.18 68.66 66.50 67.49 0.15 67.21s 11/16 Chart for EB9H Options for EB9H
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Temp: 32oF Feels Like: 23oF
Humid: 100% Dew Pt: 32oF
Barom: 30.26 Wind Dir: NNE
Cond: N/A Wind Spd: 12 mph
Sunrise: 6:45 Sunset: 4:36
As reported at BLOOMINGTON, IL at 3:00 AM
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DTN Videos
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