Stanford Grain Company
               309-379-2141 Tel 866-379-2141 Toll-free
                             207 West Main Street - Stanford IL 61774 
              
Tuesday, May 5, 2015
 
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Monday Afternoon Comments (5/4)
The corn market has few bullish friends as both the old and new crop months reached new price lows for the move. It was a good weekend for corn planting across the corn belt as analysts expect planting progress to reach 50% and possibly higher. Not sure the trade will believe any figure under 50% regardless. Weather forecasts are on the wet side for this week, especially in the western corn belt, with next week becoming drier. Temps to remain normal/above in the 2 week time period. A good start so far for the crop. Avian flu issues in Iowa continue to be dragging on corn but probably more so for the meal market. Up to 25% of the egg laying flock in Iowa is affected. Some scattered rainfall seen in the U.S. wheat belt with the wheat quality tour beginning today. Talk that Russian will soon drop the export tax on wheat also a negative factor for wheat and grains in general. Word that China will offer additional corn out of their reserve also a bearish item for traders to digest. Weekly corn export inspections were on the high side at 41.4 mln. bu. bringing the export total to 1.089 bln. bu. Updated S&D estimates from the USDA will be released on May 12th.

The soy oil market led the entire complex higher with rumors of China seeking offers on large quantities of oil. Oil was up over a full point higher with funds buying up to 8000 contracts on the day. The talk persists that the port workers in Argentina will reach an agreement today but this surely gave the complex some residual strength after the soy oil rumor. Also, there was talk of two cargoes of soybeans sold to the EU out of the U.S. Funds were also buyers of up to 4000 contracts of soybeans. The Buenos Aires Grain Exchange has raised their soybean production in Argentina to 60 mmt from their last estimate of 58.5 mmt. This happened towards the end of last week but just tells us the USDA may be low at 57 mmt. The Argentine soybean harvest progress is near 62%. Planting progress in soybeans should be near the 15% level for the entire U.S.

Today's Planting Progress Report:
Corn is 55% planted.  Avg. is 38%.  Illinois is 69% planted.  Avg. is 47%.

Soybeans are 13% planted.  Avg. is 9%.  Illinois is 12% planted. Avg. is 7%.
Winter wheat is rated 43% good to excellent, up 1% from last week.
Spring wheat is 75% planted.  Avg. is 40%.

Have a good & safe night!

A pessimist is one who makes difficulties of his opportunities and an optimist is one who makes opportunities of his difficulties.
Harry S Truman

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2015 Crop
Stanford Grain will accept grain with the Viptera trait but WILL NOT accept corn with the Duracade trait.
Thank You for your cooperation.

 

 


Local Cash Bids
 
  May June July Fall 15 Jan 16 Fall 16
STANFORD CORN Cash Price
Basis
Futures Month @C5N @C5N @C5N @C5Z @C6H @C6Z
  Chart Chart Chart Chart Chart Chart
BEANS Cash Price
Basis
Futures Month @S5N @S5N @S5N @S5X @S6F @S6X
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Price as of 05/05/15 05:12AM CDT.
Month Symbols
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Futures
@C - CORN - CBOT
Month Open High Low Last Change Close Time More
May 15 357'6 358'0 356'0 356'0 -2'6 358'6 05:01A Chart for @C5K Options for @C5K
Jul 15 360'0 360'6 358'0 358'2 -3'0 361'2 05:01A Chart for @C5N Options for @C5N
Sep 15 366'4 367'0 364'6 364'6 -3'0 367'6 05:01A Chart for @C5U Options for @C5U
Dec 15 376'2 377'0 374'4 375'0 -2'6 377'6 05:01A Chart for @C5Z Options for @C5Z
Mar 16 388'2 388'2 386'0 386'0 -3'0 389'0 05:01A Chart for @C6H Options for @C6H
May 16 395'2 395'2 395'0 395'0 -1'6 396'6 05:01A Chart for @C6K Options for @C6K
Jul 16 403'0 403'0 401'0 401'0 -2'4 403'4 05:01A Chart for @C6N Options for @C6N
Sep 16 400'0 400'0 399'6 399'6 -0'4 400'2 05:00A Chart for @C6U Options for @C6U
@S - SOYBEANS - CBOT
Month Open High Low Last Change Close Time More
May 15 982'4 987'0 981'4 982'2 -0'6 983'0 05:01A Chart for @S5K Options for @S5K
Jul 15 975'6 981'4 975'0 976'4 0'2 976'2 05:01A Chart for @S5N Options for @S5N
Aug 15 969'4 974'2 967'4 970'0 0'4 969'4 05:01A Chart for @S5Q Options for @S5Q
Sep 15 955'2 961'2 955'2 956'2 0'0 956'2 05:02A Chart for @S5U Options for @S5U
Nov 15 948'6 954'4 947'2 948'6 -0'2 949'0 05:02A Chart for @S5X Options for @S5X
Jan 16 954'2 960'0 953'4 955'0 -0'2 955'2 05:02A Chart for @S6F Options for @S6F
Mar 16 957'0 963'4 957'0 958'0 -0'6 958'6 05:02A Chart for @S6H Options for @S6H
May 16 960'0 963'2 959'4 960'2 0'0 960'2 05:02A Chart for @S6K Options for @S6K
@W - WHEAT - CBOT
Month Open High Low Last Change Close Time More
May 15 468'6 469'6 466'0 466'0 -3'2 469'2 05:01A Chart for @W5K Options for @W5K
Jul 15 471'2 472'6 468'0 468'2 -4'4 472'6 05:02A Chart for @W5N Options for @W5N
Sep 15 480'0 480'6 476'2 476'6 -4'4 481'2 05:02A Chart for @W5U Options for @W5U
Dec 15 497'4 497'4 493'0 493'4 -4'6 498'2 05:02A Chart for @W5Z Options for @W5Z
Mar 16 514'0 514'0 511'0 514'0 -1'2 515'2 05:02A Chart for @W6H Options for @W6H
May 16 522'0 522'0 522'0 522'0 -4'6 526'6 05:01A Chart for @W6K Options for @W6K
+DJ - DJ INDUSTRIAL AVERAGE - CBOT
Month Open High Low Last Change Close Time More
Jun 15 17990.00 18050.00 17980.00 17995.00 61.00 17995.00s 05/04 Chart for +DJ5M Options for +DJ5M
Sep 15 17617.00 215.00 17617.00s Chart for +DJ5U Options for +DJ5U
Dec 15 17527.00 215.00 17527.00s Chart for +DJ5Z Options for +DJ5Z
@DX - US DOLLAR INDEX - ICEFU
Month Open High Low Last Change Close Time More
Jun 15 95.595 96.095 95.580 95.755 0.118 95.637 05:02A Chart for @DX5M Options for @DX5M
Sep 15 95.975 96.480 95.975 96.120 0.078 96.042 05:01A Chart for @DX5U Options for @DX5U
Dec 15 96.590 96.845 96.590 96.600 0.233 96.367 05:01A Chart for @DX5Z Options for @DX5Z
EB - BRENT CRUDE - ICEFE
Month Open High Low Last Change Close Time More
Jun 15 66.33 66.90 66.14 66.83 0.38 66.45 05:01A Chart for EB5M Options for EB5M
Jul 15 67.20 67.67 66.91 67.60 0.37 67.23 05:01A Chart for EB5N Options for EB5N
Aug 15 67.72 68.25 67.55 68.19 0.35 67.84 05:01A Chart for EB5Q Options for EB5Q
My Custom Markets
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High: 82°F
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Stanford, IL
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Temp: 64oF Feels Like: 64oF
Humid: 90% Dew Pt: 61oF
Barom: 30.1 Wind Dir: S
Cond: N/A Wind Spd: 13 mph
Sunrise: 5:49 Sunset: 7:55
As reported at BLOOMINGTON, IL at 4:00 AM
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