Stanford Grain will be closed Monday, May 28 for Memorial Day.
Due to work on our driveway that began Monday, May 21th we will not be able to receive any grain for 3-4 week. Thank you for your cooperation.
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
Thursday Afternoon Comments (5/24/18) Corn was higher today on hope that the ongoing trade talks between the U.S. and China will lead to increased Chinese purchases of U.S. commodities including some corn. CN settled 3 ¾ cents higher and CZ jumped 3 ¼ cents, settling at a 10 month high. The market enthusiasm occurred today despite comments from President Trump that he was not satisfied with the trade talks and that any possible deal needed a different structure to provide verification that the Chinese were adhering to any negotiated settlement. Wheat rallied higher again today, providing additional support to corn. Heavy rains across North Central Iowa and parts of South Dakota and Southern Minnesota overnight affected areas that still have corn acres to plant. The rains will further delay planting and will leave some newly planted acres under water. The weekly energy production report by the EIA showed ethanol production last week dropping 2.8% from the previous week with ethanol inventories higher by 624,000 barrels. Margins remain positive. The weekly export sales report due tomorrow morning is expected to include corn sales near 28 million bu. The USDA announced this morning the sale of 140,000 MT’s of optional origin corn to Saudi Arabia with half the total being old crop and the other half new crop sales.
Soybeans were higher for the third consecutive session on rumors of Chinese purchases of U.S. beans and on general enthusiasm that China will import larger quantities of U.S. soybeans going forward. SN finished 8 ¾ cents higher; SX tacked on 9 ¾ cents. China is rumored to have bought 4 to 6 cargoes of U.S. beans and is rumored to be interested in additional supplies for September shipment. China may be interested in buying as many as 10 MMT’s of U.S. beans to boost state reserves. Moderate to heavy rains across Northern Iowa and Southern Minnesota overnight will add to the delays in planting there, but most of the Midwest is finished or nearly finished seeding the crop. A drier pattern is expected across the northern Midwest the last days of May into early June. The weekly export sales report tomorrow is expected to show last week’s soybeans sales near 10 million bu.
Comments from Mid-Co Commodities
7-day precip forecast (May 24-May 31) Have a good & safe night!
Most of the important things in the world have been accomplished by people who have kept on trying when there seemed to be no hope at all. Dale Carnegie
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