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
2018 Fall Policy is Available (click on link in the left margin)
Monday Morning Comments (8/20/18) Good Morning. Grain prices are mixed this morning with beans higher on perceived positive China news and wheat is lower on profit-taking. Corn is stuck between the two. It was announced late on Friday that meetings are being scheduled between China and the U.S. to work towards a solution on trade. Low level officials from both countries are expected to begin meeting this week. That ignited some buying for bean futures towards the end of the session on Friday and then again overnight. The first 5 minutes of the bean trade last night had a 13 cent range. Beans continue to hang in there this morning as it remains hopefully that talks will lead to a solution. The large net long position in the wheat market is causing some profit taking to start the week. Not much change to world wheat news over the weekend. The ProFarmer crop tour starts today. The east and west legs will meet in Minnesota on Thursday night. They will have an official crop estimate out on Friday. Allendale will also be conducting their tour this week as well as a few more local tours. Mexico believes there will be some progress in NAFTA this week as well. Crop conditions for corn and beans are expected to be 1 to 2% lower this afternoon due to normal crop deterioration. Rain is moving through the cornbelt today with moderate temps expected this week. It does look to warm up again this coming weekend with a drier bias again for most of the cornbelt. That should push maturity along once again. Export inspections are out this morning. The USDA is expected to have guidelines about the $12 Bln. producer relief program out by Aug. 24th. Social media looks to influence a lot of the trade this week, between the crop tour tweets and the likely comments about trade from one high ranking official.
Aug 10th USDA Report
USDA - August
USDA - July
USDA – 18/19 August
USDA – 18/19 July
Corn Ending Stocks
Bean Ending Stocks
Wheat Ending Stocks
Comments from Mid-Co Commodities
Average Price Program Results: Fall Corn=$3.71 Fall Beans=$9.85
7-day precip forecast (Aug 20-Aug 27) Have a good & safe day!
When one must, one can. Charlotte Whitton
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