Stanford Grain Company
               309-379-2141 Tel 866-379-2141 Toll-free
                             207 West Main Street - Stanford IL 61774 
              
Saturday, June 23, 2018
 
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Stanford Grain Business Hours: 
Monday-Friday 7:30-4:00
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

Friday Afternoon Comments (6/22/18)
Corn futures closed steady/mixed today as we end the week. CN fell 4 cents for the week but the lower trajectory seems to have been halted as end users start to enter the market to price needs and the trade may be rediscovering that even with national yield holding at the current estimate of 174 bpa, 18/19 ending stocks are not far above the 10% stocks to use ratio that garners more market attention. Estimates for next Friday’s acreage report are 88.4 mln. (90.2 LY), just 400,000 acres larger than the March estimate. A retreat from the 174 bpa level to 172 bpa would offset the increase in acreage if realized. Most of the corn belt is in good shape currently (KS and MO would be happy with more precip.) as we head towards the end of June. The forecast remains for a ridge to form in the nation’s mid-section in early July but it currently is not expected to last long nor have much impact. The lower 18/19 ending stocks estimate and the issues with SA production tightening the world balance sheet gives us less margin for error, though. In export news today Mexico bought 30 tmt for 17/18 and 101 tmt for 18/19 while Panama bought 117 tmt of 18/19 – nice to see Mexico buying corn for 18/19 considering trade issues.

Soybeans rallied 14 cents today in a very uneven trading week with SN losing "just" 10 cents. Trade issues with China continue to hang over the marketplace but it seems the rhetoric slowed as the week progressed and traders are most likely hoping this means cooler heads are prevailing and progress at least has a chance of being made before our next "line in the sand" date of July 6th. As China is our largest bean customer what they do is important but there are other buyers in the world. Brazil has priced themselves out of the marketplace to many traditional destinations but probably don’t mind with China showing up to buy beans. This is opening the door for U.S. origins. The uncertainty continues to be a negative to the futures market. Next week’s acreage report expected to come in at 89.7 mln. (90.1 LY), 700,000 acres higher than in March. If true, and coupled with good yield and less export demand, 18/19 ending stocks could approach our ending stocks expectations for 17/18. China continues to push the idea they can get by with fewer bean imports. Wheat futures were lower today as nearby futures fell 4 cents in Chicago and 1-2 cents in the deferred months. For the week Chicago WN fell 8 cents but the market is "rediscovering" dry weather in the Black Sea region. WN/WU firmed a penny this week and CIF basis remains supported.

Comments from Mid-Co Commodities

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

7-day precip forecast (June 22-June 29)
http://www.wpc.ncep.noaa.gov/qpf/p168i.gif?1529657956
Have a good & safe weekend!

Your best teacher is your last mistake.
Ralph Nader

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  June July Aug Fall 18 Jan 19 Fall 19
STANFORD CORN Cash Price
Basis
Futures Month @C8N @C8N @C8U @C8Z @C9H @C9Z
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BEANS Cash Price
Basis
Futures Month @S8N @S8N @S8Q @S8X @S9F @S9X
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Price as of 06/23/18 01:10AM CDT.
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Futures
@C - CORN - CBOT
Month Open High Low Last Change Close Time More
Jul 18 358'0 359'6 355'0 357'0 0'2 357'2s 06/22 Chart for @C8N Options for @C8N
Sep 18 367'0 368'6 364'2 365'6 0'0 366'4s 06/22 Chart for @C8U Options for @C8U
Dec 18 379'0 380'4 375'6 377'4 -0'2 378'0s 06/22 Chart for @C8Z Options for @C8Z
Mar 19 389'0 390'0 385'2 387'4 -0'2 387'4s 06/22 Chart for @C9H Options for @C9H
May 19 395'2 396'4 392'2 393'6 0'2 394'4s 06/22 Chart for @C9K Options for @C9K
Jul 19 401'2 402'2 398'2 400'0 0'0 400'2s 06/22 Chart for @C9N Options for @C9N
Sep 19 398'0 398'4 396'2 397'4 -0'4 397'0s 06/22 Chart for @C9U Options for @C9U
Dec 19 401'0 402'4 398'6 400'4 0'2 400'6s 06/22 Chart for @C9Z Options for @C9Z
@S - SOYBEANS - CBOT
Month Open High Low Last Change Close Time More
Jul 18 879'2 897'4 878'6 896'4 14'0 894'4s 06/22 Chart for @S8N Options for @S8N
Aug 18 884'4 902'4 884'4 901'0 14'4 900'0s 06/22 Chart for @S8Q Options for @S8Q
Sep 18 889'2 908'4 889'2 907'4 14'6 906'0s 06/22 Chart for @S8U Options for @S8U
Nov 18 900'4 919'0 900'0 918'0 14'6 916'2s 06/22 Chart for @S8X Options for @S8X
Jan 19 910'0 927'4 910'0 926'6 14'6 925'2s 06/22 Chart for @S9F Options for @S9F
Mar 19 915'0 929'6 915'0 929'6 13'0 928'0s 06/22 Chart for @S9H Options for @S9H
May 19 925'6 937'6 924'4 937'6 12'2 935'6s 06/22 Chart for @S9K Options for @S9K
Jul 19 932'4 945'6 932'4 945'6 12'6 944'0s 06/22 Chart for @S9N Options for @S9N
@W - WHEAT - CBOT
Month Open High Low Last Change Close Time More
Jul 18 495'6 497'4 487'0 489'4 -4'0 491'2s 06/22 Chart for @W8N Options for @W8N
Sep 18 506'6 509'4 498'4 502'0 -2'4 504'2s 06/22 Chart for @W8U Options for @W8U
Dec 18 523'0 525'4 515'0 519'4 -1'4 521'4s 06/22 Chart for @W8Z Options for @W8Z
Mar 19 539'6 541'2 531'4 537'4 -1'0 538'4s 06/22 Chart for @W9H Options for @W9H
May 19 551'0 551'4 542'6 549'6 -0'6 550'2s 06/22 Chart for @W9K Options for @W9K
Jul 19 555'0 556'4 547'0 553'6 -0'4 554'6s 06/22 Chart for @W9N Options for @W9N
@DX - US DOLLAR INDEX - ICEFU
Month Open High Low Last Change Close Time More
Sep 18 94.550 94.550 94.095 94.185 -0.224 94.180s 06/22 Chart for @DX8U Options for @DX8U
Dec 18 94.030 94.030 93.685 93.750 -0.229 93.740s 06/22 Chart for @DX8Z Options for @DX8Z
Mar 19 93.325 93.325 93.115 93.115 -0.229 93.280s 06/22 Chart for @DX9H Options for @DX9H
EB - BRENT CRUDE - ICEEC
Month Open High Low Last Change Close Time More
Aug 18 73.24 75.83 73.24 75.53 2.50 75.55s 06/22 Chart for EB8Q Options for EB8Q
Sep 18 73.00 75.60 72.98 75.33 2.52 75.32s 06/22 Chart for EB8U Options for EB8U
Oct 18 72.60 75.14 72.58 74.95 2.52 74.94s 06/22 Chart for EB8V Options for EB8V
My Custom Markets
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Stanford, IL
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Stanford, IL
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High: 78°F
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Precip: 23%
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Stanford, IL
Chg Zip Code: 
Temp: 63oF Feels Like: 63oF
Humid: 93% Dew Pt: 61oF
Barom: 29.8 Wind Dir: NNW
Cond: N/A Wind Spd: 7 mph
Sunrise: 5:25 Sunset: 8:29
As reported at BLOOMINGTON, IL at 12:00 AM
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