Stanford Grain Company
               309-379-2141 Tel 866-379-2141 Toll-free
                             207 West Main Street - Stanford IL 61774 
              
Monday, October 18, 2021
 
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Stanford Grain Company

Serving our customers since 1895!


Rescheduled Again:
Olympia Pacesetter 4-H Club will be serving supper on Wed. Oct 20th from 5PM-6PM (or until sold out).  Donations will be accepted and will go to the Helping Hands Community Center in Stanford.

Olympia FFA Feed the Farmer: Monday, Oct 18th from 5:00-6:00.





New CBOT Daily Limits effective 5-1-21
Corn: 40 cents
Beans: $1.00
Wheat: 45 cents

Monday Morning Comments-Oct 18


Good morning.   It has been a mixed overnight session, but overall ranges were small.   Corn traded only in a 3-cent range overnight.   Oats are lower.   Cotton is higher.   Malaysian palm oil was higher this morning.  Bean oil flat.  Energies are higher while equities are weaker.  Soybean cutting started up again over the weekend and should continue in earnest this week.    Today looks like one of the nicest days of the fall.    A small rain chance exists mid-week.   Patchy frost is possible Saturday morning.   The extended forecast is a touch wetter this morning, but warm.   Producer needs to get after those beans.  Export inspections will be out this morning.   Crop progress is out this afternoon.  Bean harvest is expected near 62 to 65% (last week at 49%).   Corn harvest is expected at 53 to 55% (last week at 41%).  Paris wheat futures into new highs overnight.   Russian wheat export prices at the highest level since August of 2012.  China imported 3.53 MMT of corn in September with year-to-date totals at 24.93 MMT.    AgRural estimated the Brazil bean planting at 22% complete, the 2nd fastest rate on record.   First corn planting at 45% done.  The trade will be watching for additional sales announcements early this week.   It should be an active harvest week across the Midwest, which may tend to limit the upside on grains.  Broad ranges, however, are still expected over the near term.   Have a good day. 


USDA report – Oct. 12, 2021

  USDA – 21/22 Oct Avg. Est. USDA – 21/22 Sept
Corn ending stocks 1.500 1.432 1.408
Bean ending stocks 0.320 0.300 0.185
Wheat ending stocks 0.580 0.576 0.615
       
  USDA –
2021 Oct
Avg. Est.  USDA –2021 Sept
Corn production 15.019 14.973 14.996
Corn yield 176.5 176.0 176.3
Corn harvested acres 85.1 85.095 85.085
       
Bean production 4.448 4.415 4.374
Bean yield 51.5 51.1 50.6
Bean harvested acres 86.4 86.349 86.436

Production and ending stocks numbers for corn and beans higher than expected.
Wheat ending stocks as expected.

7-day expected precip:

6-10 DAY FORECAST (TEMP/PRECIP)