Stanford Grain Company
               309-379-2141 Tel 866-379-2141 Toll-free
                             207 West Main Street - Stanford IL 61774 
              
Thursday, April 24, 2014
 
Home
Stanford Grain Co.
Switchboard
Marketplace
My Website
Admin Login
2013 Fall Policy
  
 
 
Wednesday Afternoon Comments (4/23)
A supportive demand picture and concern over wet weather moving into the Midwest the next 5-6 days and being accompanied by cool temperatures allowed corn to post another strong day with futures closing 7-8 cents higher. Weather forecasts are calling for ¾ to 3 inches of rain in two weather systems moving through the Midwest but forecasts following these systems seem to be improving. Good planting progress has been made the past few days but the market continues to trade concern over perceived planting delays. Could we be 20%+ planted in Monday’s report? This would be much better than last year but behind the 5 year average of 30%. Funds were back on the buy side today, buying 8,000 contracts by mid-session, partially on unwinding bean/corn spreads. Weekly ethanol report showed production down 3.1% from last week but 6.7% above last year. Corn used for ethanol was 95.55 mln. bu., down 3 mln. bu. from last week and 3 mln. bu. below what is needed on a weekly basis to meet USDA projections. Weekly export corn sales tomorrow are expected to fall between 19.7-31.5 mln. bu.

Interesting bean market today as old crop down 11 cents and new crop up 12 cents. News of Chinese cargoes being rerouted to the U.S., China selling domestic supplies at auction, and Chinese buyers having credit issues as well as poor crush margins are all pushing the nearby lower. Unwinding long bean/short corn spreads also at work and old crop/new crop bean spread unwinding was supportive to new crop. In addition to this, the market remains concerned over domestic U.S. supplies until new crop is available. Estimates are that the U.S. will need to import 75+ mln. bu. of beans vs. current USDA projections of 65 mln. bu. Estimate is that U.S. will import 35+/- mln. bu. of beans from Canada, which means we will need to import 40 mln. bu. from S. America or roughly 20 cargoes. There is also speculation that the U.S. will import 500,000 tons of soymeal vs. the 215,000 tons currently projected by USDA. All of this, coupled with logistics, will keep things interesting. Weekly export sales tomorrow are expected to fall between -7 mln. bu. and +4 mln. bu.
Have a Good & Safe Night!

Duracade Notice:
If you are planting corn with the Duracade trait this spring and plan to haul it to Stanford Grain, please let us know. 
We will need to make arrangements to handle it. 
Thank You for your cooperation.   

 

 


Local Cash Bids
 
  April May July Fall Jan 15 Fall 15
STANFORD CORN Cash Price
Basis
Futures Month @C4K @C4K @C4N @C4Z @C5H @C5Z
  Chart Chart Chart Chart Chart Chart
BEANS Cash Price
Basis
Futures Month @S4K @S4K @S4N @S4X @S5F @S5X
  Chart Chart Chart Chart Chart Chart
WHEAT Cash Price          
Basis          
Futures Month     @W4N      
  Chart
Price as of 04/24/14 12:48AM CDT.
Month Symbols
Click to view more Cash Bids

Futures
@C - CORN - CBOT
Month Open High Low Last Change Close Time More
May 14 502'6 503'6 502'0 502'2 -1'2 503'4 12:37A Chart for @C4K Options for @C4K
Jul 14 508'2 509'6 508'0 508'2 -1'2 509'4 12:37A Chart for @C4N Options for @C4N
Sep 14 505'4 507'2 505'4 505'6 -1'4 507'2 12:37A Chart for @C4U Options for @C4U
Dec 14 503'0 504'6 503'0 503'6 -0'6 504'4 12:36A Chart for @C4Z Options for @C4Z
Mar 15 511'0 512'4 510'6 512'0 -0'4 512'4 12:37A Chart for @C5H Options for @C5H
May 15 517'0 518'4 517'0 517'2 -1'4 518'6 12:36A Chart for @C5K Options for @C5K
Jul 15 523'0 523'4 523'0 523'4 0'0 523'4 12:36A Chart for @C5N Options for @C5N
Sep 15 506'4 506'0 Chart for @C5U Options for @C5U
@S - SOYBEANS - CBOT
Month Open High Low Last Change Close Time More
May 14 1468'4 1470'6 1464'0 1466'4 -2'0 1468'4 12:37A Chart for @S4K Options for @S4K
Jul 14 1463'6 1467'0 1460'4 1462'2 -2'4 1464'6 12:37A Chart for @S4N Options for @S4N
Aug 14 1400'0 1401'4 1397'0 1397'2 -3'2 1400'4 12:37A Chart for @S4Q Options for @S4Q
Sep 14 1285'2 1287'0 1280'2 1280'2 -5'2 1285'4 12:37A Chart for @S4U Options for @S4U
Nov 14 1226'6 1229'2 1219'4 1219'6 -7'6 1227'4 12:37A Chart for @S4X Options for @S4X
Jan 15 1232'6 1233'2 1225'4 1225'6 -7'2 1233'0 12:37A Chart for @S5F Options for @S5F
Mar 15 1235'2 1235'2 1229'6 1229'6 -8'0 1237'6 12:37A Chart for @S5H Options for @S5H
May 15 1243'0 1243'0 1234'2 1234'2 -8'0 1242'2 12:37A Chart for @S5K Options for @S5K
@W - WHEAT - CBOT
Month Open High Low Last Change Close Time More
May 14 677'2 677'2 671'6 672'4 -4'0 676'4 12:37A Chart for @W4K Options for @W4K
Jul 14 683'2 683'2 677'6 678'6 -4'0 682'6 12:37A Chart for @W4N Options for @W4N
Sep 14 691'0 691'2 687'2 689'0 -2'6 691'6 12:37A Chart for @W4U Options for @W4U
Dec 14 706'6 706'6 701'4 702'2 -3'4 705'6 12:37A Chart for @W4Z Options for @W4Z
Mar 15 715'0 716'2 714'6 715'2 -3'4 718'6 12:37A Chart for @W5H Options for @W5H
May 15 719'2 719'4 719'2 719'4 -3'6 723'2 12:37A Chart for @W5K Options for @W5K
+DJ - DJ INDUSTRIAL AVERAGE - CBOT
Month Open High Low Last Change Close Time More
Jun 14 16486.00 16497.00 16478.00 16480.00 20.00 16460.00 12:38A Chart for +DJ4M Options for +DJ4M
Sep 14 16400.00 2.00 16386.00s 04/23 Chart for +DJ4U Options for +DJ4U
Dec 14 16311.00 2.00 16311.00s 04/23 Chart for +DJ4Z Options for +DJ4Z
@DX - US DOLLAR INDEX - ICEFU
Month Open High Low Last Change Close Time More
Jun 14 79.925 79.945 79.880 79.890 -0.045 79.935 12:37A Chart for @DX4M Options for @DX4M
Sep 14 80.090 80.068 Chart for @DX4U Options for @DX4U
Dec 14 80.115 80.208 Chart for @DX4Z Options for @DX4Z
EB - BRENT CRUDE - ICEFE
Month Open High Low Last Change Close Time More
Jun 14 109.22 109.47 109.18 109.35 0.08 109.11 12:37A Chart for EB4M Options for EB4M
Jul 14 108.92 109.17 108.90 109.08 0.10 108.84 12:37A Chart for EB4N Options for EB4N
Aug 14 108.51 108.74 108.47 108.57 0.03 108.42 12:37A Chart for EB4Q Options for EB4Q
My Custom Markets
Symbol Open High Low Last Change Close Time More

DTN Text Messages
Log in
Username:
Password:
Click Here to request a username/password.

DTN Grain News
DTN Early Word Grains 04/23 05:53
DTN Midday Grain Comments 04/23 11:00
DTN Closing Grain Comments 04/23 13:50
DTN National HRS Index 04/22
Portland Grain Review 04/22
Grainbelt Weather Roundup
FARM MARKET NEWS - CORN REPORT FOR Wed, April 23
FARM MARKET NEWS - SOYBEAN AND WHEAT REPORT FOR Wed, April 23
USDA Daily Market Rates 04/23 06:47

DTN Ag Headline News
When Corn Gets Cold
Report: Other Communities Face AN Risks
Woodbury: Family Business Matters
Ethanol Campaign Ramps Up
Tax Extenders Vote
DTN Retail Fertilizer Trends
US at Disadvantage in Japan Trade Deal
Crop Tech Corner
Klinefelter: By the Numbers

Headline News
Obama Begins 4-Country Asia Trip 04/23 06:09
Europe Recovery Likely Strengthening 04/23 06:14
SKorea Ferry Death Toll Hits 150 04/23 06:21
Afghan Commission Delays Vote Results 04/23 06:24
Possible Plane Material Near Australia 04/23 06:10
UN: Syria Aid Needs Largely Unanswered 04/23 06:16
Greece Reaches Financial Milestone 04/23 06:22
Stocks Edge to a Lower Close Wednesday 04/23 15:37


Photos
 

 


Local Radar
Stanford, IL
Chg Zip Code: 
 
Radar
View complete Local Weather

Local Forecast
Stanford, IL
Chg Zip:

Thursday

Friday

Saturday

Sunday

Monday
High: 68°F
Low: 44°F
Precip: 50%
High: 70°F
Low: 46°F
Precip: 80%
High: 70°F
Low: 45°F
Precip: 40%
High: 70°F
Low: 47°F
Precip: 64%
High: 70°F
Low: 49°F
Precip: 60%
View complete Local Weather

Local Conditions
Stanford, IL
Chg Zip Code: 
Temp: 47oF Feels Like: 42oF
Humid: 77% Dew Pt: 40oF
Barom: 29.99 Wind Dir: ESE
Cond: N/A Wind Spd: 12 mph
Sunrise: 6:03 Sunset: 7:43
As reported at BLOOMINGTON, IL at 12:00 AM
View complete Local Weather

DTN Videos
 02:53
4/23/2014 Mixed Corn Planting Conditions Wednesday
 04:02
4/22/2014 Soybeans Fell Back
 01:23
4/23/2014 Mixed Trends Wednesday
 02:13
4/17/2014 Wheat Update

Links

Google Search

Google

KNOW BEFORE YOU GROW

NCGA Corn Hybrid Site

Know before you grow


 
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN