Stanford Grain Company
               309-379-2141 Tel 866-379-2141 Toll-free
                             207 West Main Street - Stanford IL 61774 
              
Sunday, February 26, 2017
 
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CBOT Trading Hours:
7:00PM-7:45AM-Markets Open (Sun-Thurs)
7:45AM-8:30AM-Markets Closed
8:30AM-1:15PM-Markets Open
1:15PM-7:00PM-Markets Closed
Daily Limits: Corn 25 cents, Beans 70 cents, & Wheat 30 cents

Friday Afternoon Comments (2/24)
Corn finished the week with a slightly lower close after a quiet day of trading. CH was 1 ½ cents lower; CZ fell ¾ of a cent. Newsworthy features today included the weekly export sales report as well as the initial USDA 2017/18 balance sheet projections released this morning at the Outlook Forum. Neither held any significant bullish factors and the market continued its recent weak performance as plentiful U.S. and world supplies are keeping corn prices under pressure. The USDA’s first guess at the 2017/18 corn balance sheet showed ending stocks of 2.215 billion bu., down 105 million bu. from the current 16/17 estimate. Production is down 1.1 billion bu. in 17/18 but higher beginning stocks and 400 million bu. lower demand largely compensates for the lower production. Exports are projected to be down 325 million bu. as the USDA is expecting some business to be lost to Argentina, Brazil, and Ukraine. The weekly export sales report included old crop sales of 29.3 million bu. which was lower than trade expectations but still 10 million bu. more than needed on a weekly basis to reach the USDA’s 16/17 sales projection. An estimated 79% of Brazil’s safrinha corn crop has been planted which is about 15% more than was planted on this date a year ago.

Soybeans finished the day with slight gains. SH was 2 cents higher; SX gained 2 ½ cents. The market gleaned light support from the initial 2017/18 balance sheet projections released by the USDA this morning. The ending stocks projection of 420 million bu. matches the current USDA estimate for the 2016/17 marketing year despite the projected increase next year in planted acreage of 4.6 million acres. The USDA used trend line yield of 48.0 bu. /acre to get projected production of 4.2 billion bu. which would be 125 million bu. less than a year ago but still the second largest soybean crop ever. Demand is forecast to increase by 100 million bu. with exports claiming most of the increase on the ever increasing Chinese appetite. The weekly export sales report showed old crop sales for the week ended Feb.16th of 15.2 million bu. which was below trader expectations. Total marketing year to date sales are now 1.916 billion bu. which is just 134 million bu. below the USDA 2016/17 projection with 28 weeks of the marketing year remaining.

Comments from Mid-Co Commodities

Have a good & safe weekend!

You can't go wrong doing the right thimg.
Kevin Brown

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Local Cash Bids
 
  Feb March April July Fall 17 Jan 18
STANFORD CORN Cash Price
Basis
Futures Month @C7H @C7H @C7K @C7N @C7Z @C8H
  Chart Chart Chart Chart Chart Chart
BEANS Cash Price
Basis
Futures Month @S7H @S7H @S7K @S7N @S7X @S8F
  Chart Chart Chart Chart Chart Chart
WHEAT Cash Price          
Basis          
Futures Month       @W7N    
  Chart
Price as of 02/26/17 03:56AM CST.
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Futures
@C - CORN - CBOT
Month Open High Low Last Change Close Time More
Mar 17 365'6 366'6 362'4 364'4 -1'4 364'0s 02/24 Chart for @C7H Options for @C7H
May 17 372'4 373'4 369'2 371'4 -1'6 370'6s 02/24 Chart for @C7K Options for @C7K
Jul 17 380'4 381'0 376'6 379'0 -1'4 378'2s 02/24 Chart for @C7N Options for @C7N
Sep 17 386'4 386'6 383'0 385'0 -1'2 384'4s 02/24 Chart for @C7U Options for @C7U
Dec 17 392'0 393'0 389'4 391'4 -0'6 391'0s 02/24 Chart for @C7Z Options for @C7Z
Mar 18 400'2 401'0 398'0 400'0 -0'6 399'4s 02/24 Chart for @C8H Options for @C8H
May 18 404'0 404'4 402'0 403'0 -0'6 402'6s 02/24 Chart for @C8K Options for @C8K
Jul 18 406'6 407'6 404'6 406'4 -1'0 405'6s 02/24 Chart for @C8N Options for @C8N
@S - SOYBEANS - CBOT
Month Open High Low Last Change Close Time More
Mar 17 1012'2 1016'2 1009'2 1014'0 2'0 1013'4s 02/24 Chart for @S7H Options for @S7H
May 17 1023'0 1027'2 1020'0 1025'0 1'6 1024'2s 02/24 Chart for @S7K Options for @S7K
Jul 17 1032'4 1036'2 1029'2 1034'0 1'6 1033'2s 02/24 Chart for @S7N Options for @S7N
Aug 17 1030'2 1036'0 1029'2 1033'4 1'6 1033'0s 02/24 Chart for @S7Q Options for @S7Q
Sep 17 1015'2 1020'4 1014'0 1019'0 2'2 1019'0s 02/24 Chart for @S7U Options for @S7U
Nov 17 1004'6 1008'4 1000'4 1008'4 2'4 1007'0s 02/24 Chart for @S7X Options for @S7X
Jan 18 1009'0 1012'6 1005'2 1012'6 2'6 1011'6s 02/24 Chart for @S8F Options for @S8F
Mar 18 1013'0 1013'4 1007'4 1013'4 2'0 1012'4s 02/24 Chart for @S8H Options for @S8H
@W - WHEAT - CBOT
Month Open High Low Last Change Close Time More
Mar 17 438'2 438'4 430'0 431'0 -6'6 431'2s 02/24 Chart for @W7H Options for @W7H
May 17 453'4 454'0 445'6 447'6 -5'4 448'0s 02/24 Chart for @W7K Options for @W7K
Jul 17 467'0 467'4 460'2 461'6 -5'0 462'0s 02/24 Chart for @W7N Options for @W7N
Sep 17 481'6 481'6 474'6 476'6 -5'0 477'0s 02/24 Chart for @W7U Options for @W7U
Dec 17 500'2 500'2 493'2 495'2 -4'2 495'4s 02/24 Chart for @W7Z Options for @W7Z
Mar 18 511'2 511'4 506'0 508'4 -4'0 508'2s 02/24 Chart for @W8H Options for @W8H
@DX - US DOLLAR INDEX - ICEFU
Month Open High Low Last Change Close Time More
Mar 17 101.040 101.150 100.640 101.130 0.037 101.090s 02/24 Chart for @DX7H Options for @DX7H
Jun 17 100.980 101.085 100.595 101.085 0.042 101.040s 02/24 Chart for @DX7M Options for @DX7M
Sep 17 100.645 100.860 100.500 100.810 0.042 100.900s 02/24 Chart for @DX7U Options for @DX7U
EB - BRENT CRUDE - ICEEC
Month Open High Low Last Change Close Time More
Apr 17 56.40 56.66 55.74 56.04 -0.59 55.99s 02/24 Chart for EB7J Options for EB7J
May 17 56.63 56.92 56.08 56.35 -0.51 56.31s 02/24 Chart for EB7K Options for EB7K
Jun 17 56.97 57.07 56.33 56.59 -0.43 56.55s 02/24 Chart for EB7M Options for EB7M
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