Stanford Grain Company
               309-379-2141 Tel 866-379-2141 Toll-free
                             207 West Main Street - Stanford IL 61774 
              
Sunday, January 22, 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 (1/20)
Corn futures finished the week in the green, trading higher for the sixth straight session. Futures notched a fresh 6 month high during the day but the March contract was unable to close above its 200 day moving average of $3.70. For the week, March futures gained 11 ¼ cents, while the December contract was 9 ½ cents higher. Weekly export sales came in above expectations this morning at 53.8 mln. bu. For the respective crop year to date, U.S. corn sales are up 70% from last year. In addition, the USDA announced the sale of 126,000 tons of U.S. corn to unknown destinations. This is the 9th flash sale of U.S. corn in 10 days. Corn demand remains strong. As of January 12th, cumulative export inspections for the 16/17 marketing year reached 33.3% of the USDA’s annual forecast. Yesterday’s weekly ethanol report showed another record week of production. Implied corn usage was more than 110 mln. bu. and well above the 99 mln. needed per week to meet the USDA's current marketing year target. This followed news that Mexico will import around 20% more corn in 2017, most of which will be from the U.S. Talk continues to pick up regarding the spring acreage mix. Farm Futures magazine surveyed farmers and pegged 2017 U.S. corn plantings at 90.5 mln. acres.

Soybean futures closed the day slightly lower on profit taking. Although, the nearby March contract finished the week 21 ¼ cents stronger than last Friday and the November contract was 10 ¼ cents firmer. A drier weather forecast for Argentina appears to have eased concerns somewhat over potential crop losses. The Buenos Aires Grain Exchange was out with updated estimates for Argentina, in which they lowered their bean production forecast from 54.4 MMT to 52.9 MMT. For reference, USDA is estimating their crop at 57 MMT. South American weather remains the major storyline in the beans, as the trade tries to determine crop sizes in Brazil and Argentina. Analysts are back and forth over just how much acreage has been affected by the weather in Argentina. Bears point to a dry 7-day forecast and it being early in the season, while bulls are focused on the potential for a 50 to 51 MMT crop. The forecast calls for dry weather in Argentina through the weekend with the potential for light to moderate rains early next week. Brazil is expected to see some spotty showers in the south, while decent rains are expected in the north over the next 5 days. Weekly U.S. soybean export sales were solid this morning at 35.9 mln. bu. For the respective crop year to date, the U.S. has sold 1.811 bln. bu. of beans, which is an increase of 23% from last year. Farm Futures magazine surveyed farmers and pegged 2017 U.S. soybean plantings at 90.5 mln. If correct, this would top last year’s soybean record by about 7 mln. acres. Also, if realized, it would represent the first time since 1983 that U.S. farmers plant more beans than corn.

Comments from Mid-Co Commodities

Have a good & safe day!

To be prepared for war is one of the most effective means of preserving peace.
George Washington

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Local Cash Bids
 
  Jan Feb March April July Fall 17 Jan 18
STANFORD CORN Cash Price
Basis
Futures Month @C7H @C7H @C7H @C7K @C7N @C7Z @C8H
  Chart Chart Chart Chart Chart Chart Chart
BEANS Cash Price
Basis
Futures Month @S7H @S7H @S7H @S7K @S7N @S7X @S8F
  Chart Chart Chart Chart Chart Chart Chart
WHEAT Cash Price            
Basis            
Futures Month         @W7N    
  Chart
Price as of 01/22/17 06:26PM CST.
Month Symbols
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Futures
@C - CORN - CBOT
Month Open High Low Last Change Close Time More
Mar 17 366'0 370'0 365'0 370'0 3'4 369'6s 06:14P Chart for @C7H Options for @C7H
May 17 372'6 376'6 371'6 376'4 3'0 376'2s 06:13P Chart for @C7K Options for @C7K
Jul 17 379'4 383'2 378'2 383'2 3'0 383'0s 06:05P Chart for @C7N Options for @C7N
Sep 17 386'0 389'2 385'0 389'2 2'6 389'2s 04:34P Chart for @C7U Options for @C7U
Dec 17 393'0 396'2 392'0 395'6 2'2 395'6s 05:58P Chart for @C7Z Options for @C7Z
Mar 18 399'4 403'0 399'2 402'6 2'2 402'6s 05:46P Chart for @C8H Options for @C8H
May 18 404'2 406'6 403'0 406'6 2'2 406'4s 04:40P Chart for @C8K Options for @C8K
Jul 18 406'4 409'6 406'2 409'6 2'2 409'2s 02:00P Chart for @C8N Options for @C8N
@S - SOYBEANS - CBOT
Month Open High Low Last Change Close Time More
Mar 17 1070'0 1071'2 1060'0 1067'6 -2'6 1067'4s 06:08P Chart for @S7H Options for @S7H
May 17 1078'0 1079'4 1068'2 1075'4 -2'4 1076'0s 04:40P Chart for @S7K Options for @S7K
Jul 17 1083'2 1085'2 1074'2 1082'0 -1'6 1082'0s 04:45P Chart for @S7N Options for @S7N
Aug 17 1075'2 1079'0 1069'6 1076'0 -1'4 1076'2s 04:40P Chart for @S7Q Options for @S7Q
Sep 17 1050'0 1055'0 1045'4 1052'2 -0'6 1052'4s 02:00P Chart for @S7U Options for @S7U
Nov 17 1027'6 1031'0 1021'2 1029'2 -1'0 1028'6s 05:55P Chart for @S7X Options for @S7X
Jan 18 1028'2 1033'0 1024'2 1031'4 -0'4 1031'2s 05:47P Chart for @S8F Options for @S8F
Mar 18 1023'4 1027'4 1020'6 1026'4 -2'0 1026'2s 02:00P Chart for @S8H Options for @S8H
@W - WHEAT - CBOT
Month Open High Low Last Change Close Time More
Mar 17 423'4 428'6 421'4 428'2 4'6 428'2s 05:55P Chart for @W7H Options for @W7H
May 17 439'0 443'4 437'0 443'2 4'0 443'2s 05:06P Chart for @W7K Options for @W7K
Jul 17 454'6 459'0 452'6 458'4 3'2 458'4s 05:39P Chart for @W7N Options for @W7N
Sep 17 468'6 473'4 468'4 472'6 2'4 473'2s 04:40P Chart for @W7U Options for @W7U
Dec 17 488'6 492'4 487'0 491'2 2'2 492'0s 02:00P Chart for @W7Z Options for @W7Z
Mar 18 502'0 504'0 500'6 504'0 2'2 504'6s 04:40P Chart for @W8H Options for @W8H
@DX - US DOLLAR INDEX - ICEFU
Month Open High Low Last Change Close Time More
Mar 17 100.750 100.750 100.550 100.630 - 0.060 100.690 06:16P Chart for @DX7H Options for @DX7H
Jun 17 100.575 100.605 100.490 100.525 - 0.055 100.580 06:16P Chart for @DX7M Options for @DX7M
Sep 17 100.600 100.455 Chart for @DX7U Options for @DX7U
EB - BRENT CRUDE - ICEEC
Month Open High Low Last Change Close Time More
Mar 17 55.70 55.75 55.42 55.57 0.08 55.49 06:15P Chart for EB7H Options for EB7H
Apr 17 56.06 56.24 55.92 56.05 0.07 55.98 06:15P Chart for EB7J Options for EB7J
May 17 56.59 56.74 56.44 56.56 0.06 56.50 06:15P Chart for EB7K Options for EB7K
My Custom Markets
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Temp: 40oF Feels Like: 31oF
Humid: 89% Dew Pt: 37oF
Barom: 29.69 Wind Dir: N
Cond: N/A Wind Spd: 17 mph
Sunrise: 7:12 Sunset: 5:03
As reported at BLOOMINGTON, IL at 6:00 PM
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