Stanford Grain Company
               309-379-2141 Tel 866-379-2141 Toll-free
                             207 West Main Street - Stanford IL 61774 
              
Sunday, September 23, 2018
 
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Stanford Grain Company Harvest Hours:
Monday-Saturday: 7AM-7PM
Sunday: Noon-5PM
(weather permitting)


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 75 cents, & Wheat 35 cents

2018 Fall Policy is Available
(click on link in the left margin)

Friday Afternoon Comments (9/21/18)
Corn futures climbed higher today on short-covering, continuing their counter-trend rally phase following recent declines. The December contract was able to end the session above its 10-day moving average at $3.54 ½. Technical resistance for December futures now sits at the month's high at $3.69 ¾. For the week, nearby corn futures were up 5 ½ cents. The Eastern Corn Belt is seeing rain today, but Illinois and west are expected to be mostly dry until early next week; allowing harvest activity to continue in many areas. The 6-10 day weather maps still look wetter than average for the Midwest with a cold front that will drop temperatures. Monday will bring updated U.S. harvest progress numbers from NASS. As of last Sunday, the U.S. corn crop was called 9% harvested and 54% of the corn crop was estimated to have reached maturity. The window for Canada and the U.S. to land a NAFTA deal is getting smaller. This week's round of NAFTA talks ended on Thursday with Canada's Foreign Minister set to return next week. The desired deadline for negotiations is October 1st. Trade representatives from the U.S. and Canada remain at odds over Canada's dairy subsidies and NAFTA's current dispute resolution policies. This morning, USDA announced a flash sale of 121,700 tons of corn sold to unknown for 18/19.

Soybean futures were unable to close double digits higher for the 3rd day in a row and ended the session lower as strong harvest yield reports and trade uncertainties continue to loom over the market. For the week, November futures were up 16 ¾ cents. Price action this week has been volatile. Bean futures appear vulnerable to a digestion phase, although the intermediate-term trend remains bearish. Traders continue to closely monitor news out of China. Most recently, China indicated it will be cutting tariffs on goods imported from countries outside of the U.S. as a way to curb domestic price inflation. The move is considered to be preparation to help China's economy weather a prolonged trade war. There remains much debate over how much soy China will import in the coming year. The effective price that China pays for Brazilian beans is now very close to the price that they would have to be paid for U.S. beans after China's tariff is applied. The question is, will it be politically feasible? Some would argue it might, as at least two cargos of U.S. beans are said to be heading to China currently.


9/12 USDA Report

  USDA - Sept Avg. Est. USDA - Aug
Corn Production 14.827 14.506 14.586
Corn Yield 181.3 177.4 178.4
       
Bean Production 4.693 4.659 4.586
Bean Yield 52.85 52.5 51.6
       
Corn ending stocks 1.774 1.590 1.684
Bean ending stocks 0.845 0.836 0.785

Comments from Mid-Co Commodities

Average Price Program Results:
Fall Corn=$3.71
Fall Beans=$9.85

7-day precip forecast (Sept 19-Sept 26)
https://www.wpc.ncep.noaa.gov/qpf/p168i.gif?1537444630
Have a good & safe weekend!

There is no substitute for hard work.
Thomas A. Edison

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Local Cash Bids
 
  Fall 18 Dec Jan 19 Mar Fall 19
STANFORD CORN Cash Price
Basis
Futures Month @C8Z @C8Z @C9H @C9H @C9Z
  Chart Chart Chart Chart Chart
BEANS Cash Price
Basis
Futures Month @S8X @S9F @S9F @S9H @S9X
  Chart Chart Chart Chart Chart
Price as of 09/23/18 06:23PM CDT.
Month Symbols
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Futures
@C - CORN - CBOT
Month Open High Low Last Change Close Time More
Dec 18 352'4 357'6 352'2 357'6 4'6 357'2s 06:11P Chart for @C8Z Options for @C8Z
Mar 19 364'6 369'6 364'4 369'4 4'4 369'2s 06:10P Chart for @C9H Options for @C9H
May 19 373'0 377'6 372'4 377'4 4'4 377'2s 04:48P Chart for @C9K Options for @C9K
Jul 19 379'0 383'4 378'4 383'4 4'2 383'2s 04:40P Chart for @C9N Options for @C9N
Sep 19 384'2 388'0 384'0 388'0 3'4 387'4s 02:00P Chart for @C9U Options for @C9U
Dec 19 390'2 394'0 389'2 393'6 3'4 393'6s 02:00P Chart for @C9Z Options for @C9Z
Mar 20 401'0 404'2 400'6 404'2 3'4 404'2s 05:18P Chart for @C0H Options for @C0H
May 20 407'4 409'0 407'2 409'0 3'4 411'0s 09/21 Chart for @C0K Options for @C0K
@S - SOYBEANS - CBOT
Month Open High Low Last Change Close Time More
Nov 18 846'2 849'6 841'2 849'6 -3'0 847'2s 06:11P Chart for @S8X Options for @S8X
Jan 19 860'0 863'6 855'0 863'6 -2'6 861'2s 04:40P Chart for @S9F Options for @S9F
Mar 19 872'0 876'2 868'2 876'2 -2'6 874'2s 04:40P Chart for @S9H Options for @S9H
May 19 886'2 889'4 881'6 889'4 -2'2 887'4s 06:05P Chart for @S9K Options for @S9K
Jul 19 896'0 900'0 892'2 900'0 -2'0 897'6s 04:01P Chart for @S9N Options for @S9N
Aug 19 901'4 902'2 897'0 902'0 -1'6 902'0s 04:40P Chart for @S9Q Options for @S9Q
Sep 19 904'4 905'4 900'2 905'4 -0'2 905'4s 09/21 Chart for @S9U Options for @S9U
Nov 19 909'2 913'0 904'4 912'6 0'6 912'4s 02:00P Chart for @S9X Options for @S9X
@W - WHEAT - CBOT
Month Open High Low Last Change Close Time More
Dec 18 521'0 524'2 515'0 522'4 -2'2 521'6s 05:53P Chart for @W8Z Options for @W8Z
Mar 19 541'0 543'0 534'6 541'4 -1'6 540'6s 04:01P Chart for @W9H Options for @W9H
May 19 551'6 554'2 547'2 554'0 -0'6 553'0s 02:00P Chart for @W9K Options for @W9K
Jul 19 554'0 556'6 551'0 556'6 -0'4 555'6s 02:00P Chart for @W9N Options for @W9N
Sep 19 564'2 566'6 560'6 566'6 -0'2 565'4s 02:00P Chart for @W9U Options for @W9U
Dec 19 578'0 581'6 575'0 581'6 0'4 580'4s 09/21 Chart for @W9Z Options for @W9Z
@DX - US DOLLAR INDEX - ICEFU
Month Open High Low Last Change Close Time More
Dec 18 93.795 93.825 93.795 93.815 0.017 93.798 06:13P Chart for @DX8Z Options for @DX8Z
Mar 19 93.330 93.273 Chart for @DX9H Options for @DX9H
Jun 19 92.820 92.773 Chart for @DX9M Options for @DX9M
EB - BRENT CRUDE - ICEEC
Month Open High Low Last Change Close Time More
Nov 18 78.97 79.87 78.97 79.73 0.93 78.80 06:12P Chart for EB8X Options for EB8X
Dec 18 78.78 79.26 78.49 79.11 0.87 78.24 06:12P Chart for EB8Z Options for EB8Z
Jan 19 78.11 78.85 78.11 78.79 0.93 77.86 06:12P Chart for EB9F Options for EB9F
My Custom Markets
Symbol Open High Low Last Change Close Time More

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Stanford, IL
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Local Forecast
Stanford, IL
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Thursday
High: 78°F
Low: 43°F
Precip: 0%
High: 74°F
Low: 55°F
Precip: 38%
High: 83°F
Low: 63°F
Precip: 79%
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Low: 53°F
Precip: 20%
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Precip: 0%
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Local Conditions
Stanford, IL
Chg Zip Code: 
Temp: 75oF Feels Like: 74oF
Humid: 34% Dew Pt: 45oF
Barom: 30.13 Wind Dir: ESE
Cond: N/A Wind Spd: 8 mph
Sunrise: 6:44 Sunset: 6:51
As reported at BLOOMINGTON, IL at 6:00 PM
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