Stanford Grain Company
               309-379-2141 Tel 866-379-2141 Toll-free
                             207 West Main Street - Stanford IL 61774 
              
Tuesday, July 22, 2014
 
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Monday Afternoon Comments (7/21)
A near ideal weather forecast for the Midwest continued to weigh on futures driving the December contract to a new low. This afternoon will bring updated crop condition ratings. The expectation is to see the corn rating increase 1% in the good to excellent category. Last week the U.S. corn crop was rated 76% good to excellent with 34% of the crop silking (today's report @ 76%G/E). Only 5% of the corn crop was given a poor or very poor rating compared to 9% in the previous year. Normal to below normal temperatures are expected to persist through the end of July across the Midwest according to forecasters, while above normal precipitation is predicted for the eastern corn belt. The Doane crop tour began today and will be conducted over the next two weeks. The western route covering western Illinois, Iowa, southern Minnesota, eastern Nebraska, and eastern Missouri will take place July 21st through the 24th. The eastern route is scheduled for July 27th through the 29th and includes the rest of Illinois, Indiana, and western Ohio. Weekly corn export inspections came in this morning at 37 mln. bu. The corn pace continues to lag behind the USDA’s annual forecast. Exports need to average 47.6 mln. bu. per week to meet the USDA’s projection.
Old crop bean and meal sales to China helped to support the August contract today. However, the prospect for a large 14/15 U.S. soybean crop weighed on the deferreds. This afternoon will bring updated crop condition ratings. The expectation is to see the soybean rating remain steady to up 1%. Last week U.S. soybeans were rated 72% good to excellent with 41% of the bean crop blooming (today's report @ 73% G/E). This morning private exporters reported the sale of 120,000 tonnes of U.S. soybeans to China for delivery in the 13/14 marketing year. China’s customs showed June bean imports at 6.4 MMT, which was down 8% on the year. Jan-June soybean imports came in at 34.2 MMT, up 24% from the prior year. Rosario port workers are said to have ended their strike, pending negotiations today. Weekly U.S. soybean export inspections came in this morning at 3.6 mln. bu. Exports need to average 7.2 mln. bu. per week in order to meet the USDA’s annual forecast.
Comments from Mid-Co Commodities
Have a good & safe night!


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Local Cash Bids
 
  July Aug Fall Jan 15 Fall 15 Jan 16
STANFORD CORN Cash Price
Basis
Futures Month @C4U @C4U @C4Z @C5H @C5Z @C6H
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BEANS Cash Price
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Futures Month @S4Q @S4Q @S4X @S5F @S5X @S6F
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Price as of 07/22/14 04:16AM CDT.
Month Symbols
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Futures
@C - CORN - CBOT
Month Open High Low Last Change Close Time More
Sep 14 363'4 365'4 363'0 365'4 1'4 364'0 04:06A Chart for @C4U Options for @C4U
Dec 14 371'4 373'4 371'0 373'4 1'4 372'0 04:06A Chart for @C4Z Options for @C4Z
Mar 15 383'4 385'2 382'6 385'2 1'4 383'6 04:06A Chart for @C5H Options for @C5H
May 15 392'2 393'2 391'0 393'0 0'6 392'2 04:06A Chart for @C5K Options for @C5K
Jul 15 399'6 400'6 398'6 400'0 0'2 399'6 04:06A Chart for @C5N Options for @C5N
Sep 15 406'4 407'4 406'2 406'2 -0'4 406'6 04:06A Chart for @C5U Options for @C5U
Dec 15 411'2 412'6 411'0 411'6 -0'2 412'0 04:06A Chart for @C5Z Options for @C5Z
Mar 16 421'6 421'6 Chart for @C6H Options for @C6H
@S - SOYBEANS - CBOT
Month Open High Low Last Change Close Time More
Aug 14 1175'0 1191'4 1172'6 1189'0 13'2 1175'6 04:06A Chart for @S4Q Options for @S4Q
Sep 14 1089'0 1098'6 1087'6 1096'0 4'4 1091'4 04:05A Chart for @S4U Options for @S4U
Nov 14 1068'4 1076'0 1066'4 1073'0 1'4 1071'4 04:06A Chart for @S4X Options for @S4X
Jan 15 1077'2 1083'4 1075'0 1081'2 1'4 1079'6 04:06A Chart for @S5F Options for @S5F
Mar 15 1085'0 1092'0 1083'6 1089'2 1'6 1087'4 04:06A Chart for @S5H Options for @S5H
May 15 1093'6 1099'0 1090'4 1095'4 0'2 1095'2 04:06A Chart for @S5K Options for @S5K
Jul 15 1098'6 1106'0 1098'2 1104'2 2'0 1102'2 04:06A Chart for @S5N Options for @S5N
Aug 15 1100'4 1106'0 1095'4 1102'0 -13'6 1099'0s 04:05A Chart for @S5Q Options for @S5Q
@W - WHEAT - CBOT
Month Open High Low Last Change Close Time More
Sep 14 529'4 535'0 529'2 532'0 2'0 530'0 04:05A Chart for @W4U Options for @W4U
Dec 14 554'2 559'4 553'4 556'0 1'6 554'2 04:05A Chart for @W4Z Options for @W4Z
Mar 15 577'0 583'0 577'0 580'2 3'0 577'2 04:05A Chart for @W5H Options for @W5H
May 15 592'4 596'0 592'4 594'4 2'0 592'4 04:05A Chart for @W5K Options for @W5K
Jul 15 604'6 611'4 604'6 607'4 1'6 605'6 04:05A Chart for @W5N Options for @W5N
Sep 15 620'4 620'4 620'4 620'4 2'6 617'6 04:05A Chart for @W5U Options for @W5U
+DJ - DJ INDUSTRIAL AVERAGE - CBOT
Month Open High Low Last Change Close Time More
Sep 14 16992.00 17022.00 16992.00 17008.00 25.00 16983.00 04:06A Chart for +DJ4U Options for +DJ4U
Dec 14 16760.00 16899.00 Chart for +DJ4Z Options for +DJ4Z
Mar 15 16820.00 Chart for +DJ5H Options for +DJ5H
@DX - US DOLLAR INDEX - ICEFU
Month Open High Low Last Change Close Time More
Sep 14 80.640 80.810 80.610 80.765 0.138 80.627 04:06A Chart for @DX4U Options for @DX4U
Dec 14 80.710 80.865 80.710 80.865 0.155 80.710 04:06A Chart for @DX4Z Options for @DX4Z
Mar 15 80.940 80.940 80.940 80.940 0.120 80.820 04:06A Chart for @DX5H Options for @DX5H
EB - BRENT CRUDE - ICEFE
Month Open High Low Last Change Close Time More
Sep 14 107.80 108.10 107.54 108.03 0.35 107.68 04:06A Chart for EB4U Options for EB4U
Oct 14 108.14 108.49 107.95 108.42 0.34 108.08 04:06A Chart for EB4V Options for EB4V
Nov 14 108.17 108.59 108.07 108.52 0.34 108.18 04:06A Chart for EB4X Options for EB4X
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Stanford, IL
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High: 88°F
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Local Conditions
Stanford, IL
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Temp: 65oF Feels Like: 65oF
Humid: 90% Dew Pt: 62oF
Barom: 30.06 Wind Dir: S
Cond: N/A Wind Spd: 6 mph
Sunrise: 5:44 Sunset: 8:20
As reported at BLOOMINGTON, IL at 3:00 AM
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