Stanford Grain Company
               309-379-2141 Tel 866-379-2141 Toll-free
                             207 West Main Street - Stanford IL 61774 
              
Friday, July 20, 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

Thursday Afternoon Comments (7/19/18)
Corn was higher today, with the market finishing on the plus side for the fourth consecutive session. CU and CZ each settled up 4 cents and at their highest levels since July 9th. Commodity funds were modest coverers of their corn short positions today with purchases as of midday estimated at 3500 contracts. Corn is benefitting this week from optimism that the U.S. will soon reach a trade deal with Mexico – the largest buyer of U.S. corn – and from talk that dry weather in parts of the corn belt is reducing yield potential. Traders expect Monday’s crop conditions report to show corn rated in excellent or good condition falling another 1 to 2 % after the 3% drop this past Monday. This morning’s weekly export sales report showed old crop sales for the week ended July 12th of 25.2 million bu. with new crop sales of 30.5 million bu., or somewhat higher than expectations. FAS did announce later in the morning that reported sales to Argentina were incorrect and would be corrected in next week’s report. Regardless, export demand looks like it will remain strong right through the first quarter of the new marketing year and probably beyond.

After trading lower during the overnight and early morning hours, soybeans steadily gained strength from mid-morning into the close and finished the day in the green. SQ and SX each settled 3 ¾ cents better. Commodity funds were light sellers of soybeans during the morning hours with total sales as of midday estimated at 900 contracts. Early losses were linked to concern that no progress was being made on the U.S./Chinese trade dispute and that additional tariffs would be placed on Chinese imports. There was little fresh news for soybean traders today outside of the weekly export sales report. That report was somewhat supportive with old crop sales reported at 9.3 million bu. and new crop sales of 22.5 million bu. Some had feared that there would be large cancelations of Chinese purchases but total cancelations amounted to just 2.2 million bu. of new crop sales. Non-Chinese export business continues to be pushed to the U.S.

July 12th USDA Crop Production and Supply & Demand Reports

  USDA - July Avg. Estimate USDA - June        
Corn Production 14.230 14.331 14.040        
Corn Yield 174.0 175.3 174.0        
               
Bean Production 4.310 4.329 4.280        
Bean Yield 48.5 48.8 48.5        
               
  USDA – 18/19
July
Avg. Est. USDA – 18/19
June
  USDA – 17/18
July
Avg. Est. USDA – 17/18
June
Corn ending stocks 1.552 1.735 1.577   2.027 2.106 2.102
Bean ending stocks 0.580 0.491 0.385   0.465 0.507 0.505
Wheat ending stocks 0.985 0.982 0.946   1.100 1.098 1.080

Comments from Mid-Co Commodities

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

7-day precip forecast (July 19-July 26)
https://www.wpc.ncep.noaa.gov/qpf/p168i.gif?1532002996
Have a good & safe night!

When in doubt, don't.
Benjamin Franklin

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Local Cash Bids
 
  July Aug Fall 18 Dec Jan 19 Mar Fall 19
STANFORD CORN Cash Price
Basis
Futures Month @C8U @C8U @C8Z @C8Z @C9H @C9H @C9Z
  Chart Chart Chart Chart Chart Chart Chart
BEANS Cash Price
Basis
Futures Month @S8Q @S8Q @S8X @S9F @S9F @S9H @S9X
  Chart Chart Chart Chart Chart Chart Chart
Price as of 07/20/18 03:28AM CDT.
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Futures
@C - CORN - CBOT
Month Open High Low Last Change Close Time More
Sep 18 351'2 352'2 351'2 352'0 0'6 351'2 03:18A Chart for @C8U Options for @C8U
Dec 18 365'2 366'2 365'2 366'0 1'0 365'0 03:18A Chart for @C8Z Options for @C8Z
Mar 19 376'4 377'2 376'4 377'2 0'6 376'4 03:18A Chart for @C9H Options for @C9H
May 19 382'6 383'6 382'6 383'2 0'4 382'6 03:18A Chart for @C9K Options for @C9K
Jul 19 388'0 389'4 388'0 389'2 0'4 388'6 03:18A Chart for @C9N Options for @C9N
Sep 19 390'2 391'0 390'2 391'0 0'4 390'4 03:17A Chart for @C9U Options for @C9U
Dec 19 393'6 394'6 393'6 394'2 0'4 393'6 03:16A Chart for @C9Z Options for @C9Z
Mar 20 404'6 405'2 404'0 404'0 1'4 404'6s 03:14A Chart for @C0H Options for @C0H
@S - SOYBEANS - CBOT
Month Open High Low Last Change Close Time More
Aug 18 846'0 851'6 846'0 850'2 4'2 846'0 03:18A Chart for @S8Q Options for @S8Q
Sep 18 852'2 857'4 852'0 856'2 4'2 852'0 03:18A Chart for @S8U Options for @S8U
Nov 18 861'4 867'0 861'2 865'2 3'6 861'4 03:18A Chart for @S8X Options for @S8X
Jan 19 873'0 876'6 873'0 876'0 4'2 871'6 03:18A Chart for @S9F Options for @S9F
Mar 19 881'4 886'0 881'4 885'4 4'6 880'6 03:18A Chart for @S9H Options for @S9H
May 19 890'6 895'0 890'6 895'0 5'0 890'0 03:18A Chart for @S9K Options for @S9K
Jul 19 898'4 903'0 898'4 903'0 4'4 898'4 03:18A Chart for @S9N Options for @S9N
Aug 19 893'2 895'6 890'0 895'6 3'4 899'6s 03:16A Chart for @S9Q Options for @S9Q
@W - WHEAT - CBOT
Month Open High Low Last Change Close Time More
Sep 18 503'4 507'0 503'0 506'0 1'6 504'2 03:18A Chart for @W8U Options for @W8U
Dec 18 520'4 523'2 519'6 522'6 2'2 520'4 03:18A Chart for @W8Z Options for @W8Z
Mar 19 535'2 538'6 535'2 538'6 2'6 536'0 03:18A Chart for @W9H Options for @W9H
May 19 545'2 547'6 545'2 547'6 2'0 545'6 03:18A Chart for @W9K Options for @W9K
Jul 19 551'6 552'2 549'6 551'4 1'6 549'6 03:18A Chart for @W9N Options for @W9N
Sep 19 559'0 560'4 559'0 560'2 1'6 558'4 03:18A Chart for @W9U Options for @W9U
@DX - US DOLLAR INDEX - ICEFU
Month Open High Low Last Change Close Time More
Sep 18 94.905 95.095 94.785 94.925 -0.017 94.942 03:16A Chart for @DX8U Options for @DX8U
Dec 18 94.490 94.620 94.385 94.575 0.058 94.517 03:16A Chart for @DX8Z Options for @DX8Z
Mar 19 94.000 94.000 93.895 93.895 -0.162 94.057 03:16A Chart for @DX9H Options for @DX9H
EB - BRENT CRUDE - ICEEC
Month Open High Low Last Change Close Time More
Sep 18 72.65 73.30 72.26 73.20 0.62 72.58 03:17A Chart for EB8U Options for EB8U
Oct 18 72.71 73.34 72.35 73.25 0.58 72.67 03:17A Chart for EB8V Options for EB8V
Nov 18 72.88 73.38 72.43 73.29 0.55 72.74 03:17A Chart for EB8X Options for EB8X
My Custom Markets
Symbol Open High Low Last Change Close Time More

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Stanford, IL
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Temp: 68oF Feels Like: 68oF
Humid: 76% Dew Pt: 60oF
Barom: 29.82 Wind Dir: SSW
Cond: N/A Wind Spd: 12 mph
Sunrise: 5:42 Sunset: 8:21
As reported at BLOOMINGTON, IL at 3:00 AM
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