Stanford Grain Company
               309-379-2141 Tel 866-379-2141 Toll-free
                             207 West Main Street - Stanford IL 61774 
              
Thursday, June 30, 2022
 
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Stanford Grain Company

Serving our customers since 1895!

Elevator hours Monday-Friday: 7:30-4:00 


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Stanford Grain will be closed on Monday, July 4th. 
CBOT Holiday Schedule:
Friday, July 1st: Regular Schedule
Sunday, July 3rd: No overnight session
Monday, July 4th: Closed (no overnight trade)
Tuesday, July 5th: Markets open at 8:30AM

Due to a 3 day weekend and market volatility, SGC will not buy grain after 1:15PM Friday afternoon, July 1st, until the markets resume trading Tuesday morning at 8:30AM.  We will accept offers during that time.


   


New CBOT Daily Limits effective 5-1-22
Corn: 50 cents 
Beans: $1.15 
Wheat: 70 cents 

Thursday Morning Comments-June 30

Good afternoon. What a day as the market absorbed stocks and acreage reports as well as month end and quarter end. Corn closed 26 cents lower nearby and 32-35 cents lower in the deferred months. Hard to believe based on current price action, but CN lost just 9 cents this month. Funds were estimated sellers of 9,000 corn contracts mid-session and are thought long 231,000 contracts. Weekly export sales were poor at 3.5 mln. bu. and bring YTD commitments to 2.379 bln. bu. vs. 2.738 bln. bu. last year. Corn acreage in the June report came in at 89.9 mln. acres vs. 89.86 mln. estimated. This is 431,000 higher than the March estimate but 3.44 mln. acres below last year. Heart of the belt corn acres are down substantially. MN, ND, and SD will be resurveyed in July due to late planting and changes will be reported, if warranted, in the August report. Southeastern acres are lower, and their weather is not great. Corn supply estimates on a regional basis are a work in progress. Quarterly stocks came in at 4.35 mln. bu. vs. 4.34 bln. bu. expected. This is up 6% from last year. On farm stocks are up 22% from last year while off farm stocks are down 6% from last year. The trend of variability in stocks compared to expectations and how well the stocks vs. cash basis comparison seems to work continues to be an issue. Crude oil future off 4.00 at 105.74 and the DOW off 275 at 30724 not helping much in support of corn futures.

Soybeans closed steady nearby and 20 cents lower in new crop in erratic trade. SN lost just 8 cents this month. Funds were estimated buyers of 6,000 soybean contracts at mid-day and are thought long 158,000 contracts. They were buyers of SBM and sellers of SBO today. Weekly export sales of -4.4 mln. bu. points to sales cancellations. YTD commitments at 1.901 bln. bu. vs. 2.141 bln. bu. last year. 22/23 sales were 4.7 mln. bu. and bring YTD commitments to 496 mln. bu. The acreage report was a bit of a surprise with acres at 88.3 mln. vs. 90.45 expected. This is 2.7 mln. acres below the March estimate but 1.1 mln. acres higher than last year. MN, ND, and SD will be resurveyed in July due to late planting and changes will be reported, if warranted, in the August report. Bean stocks were 971 mln. bu. vs. 965 mln. bu. estimated. On farm stocks are up 51% and off farm stocks are up 17% from last year.

Wheat pressured again today and fell roughly 45 cents. Chicago WN down 219 cents this month. The great export rush for wheat due to Ukraine has not yet materialized. Funds are thought short 12,000 contracts. Weekly sales at 18.3 mln. bu. and YTD commitments at 212 mln. bu. Wheat acreage about as expected at 47.1 mln. acres, representing the 5th lowest acreage since 1919. Stocks at 660 mln. bu. are 22% below last year.

USDA report – June 30, 2022

  USDA –
June 1, 2022
Avg. Est. USDA –
June 1, 2021
Corn quarterly stocks 4.346 4.345 4.111
Bean quarterly stocks 0.971 0.954 0.769
Wheat quarterly stocks 0.660 0.655 0.845
       
  USDA –
June 1, 2022
Avg. Est.  USDA –
March 1, 2022
Corn acreage 89.9 89.7 89.5
Bean acreage 88.3 90.4 91.0
Wheat acreage 47.1 47.0 47.4
        Spring wheat 11.1 10.8 11.2
Cotton acreage 12.5 12.3 12.2

Bean acres less than expected. 
Bean stocks a bit higher than expected.
Corn stocks right on the average guess.

7-day expected precip:

https://www.wpc.ncep.noaa.gov/qpf/p168i.gif?1656592896

6-10 DAY FORECAST (TEMP/PRECIP)
 

6 to 10 Day Outlook - Temperature Probability6 to 10 Day Outlook - Precipitation Probability

Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time.
Thomas A. Edison
Have a good and safe night!

 


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  June July Fall 22 Jan 23 Fall 23 Jan 24 Fall 24
STANFORD CORN Cash Price
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Futures Month @C2U @C2U @C2Z @C3H @C3Z @C4H @C4Z
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BEANS Cash Price
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Futures Month @S2Q @S2Q @S2X @S3F @S3X @S4F @S4X
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Price as of 06/30/22 11:23PM CDT.
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Futures
@C - CORN - CBOT
Month Open High Low Last Change Close Time More
Jul 22 748'0 752'0 744'0 744'0 0'2 743'6 11:11P Chart for @C2N Options for @C2N
Sep 22 633'6 636'6 627'0 628'0 -0'6 628'6 11:11P Chart for @C2U Options for @C2U
Dec 22 625'0 627'0 616'0 618'2 -1'4 619'6 11:11P Chart for @C2Z Options for @C2Z
Mar 23 631'6 633'0 622'4 624'4 -1'6 626'2 11:11P Chart for @C3H Options for @C3H
May 23 633'2 636'2 626'2 628'0 -1'6 629'6 11:12P Chart for @C3K Options for @C3K
Jul 23 632'6 634'2 624'2 625'6 -1'6 627'4 11:11P Chart for @C3N Options for @C3N
Sep 23 602'0 603'0 598'0 598'0 0'6 597'2 11:11P Chart for @C3U Options for @C3U
Dec 23 586'0 590'4 582'2 582'4 -1'4 584'0 11:11P Chart for @C3Z Options for @C3Z
@S - SOYBEANS - CBOT
Month Open High Low Last Change Close Time More
Jul 22 1675'0 1683'2 1661'2 1667'6 -7'2 1675'0 11:11P Chart for @S2N Options for @S2N
Aug 22 1563'6 1573'2 1547'6 1552'2 -8'2 1560'4 11:11P Chart for @S2Q Options for @S2Q
Sep 22 1479'4 1488'4 1462'2 1465'4 -10'0 1475'4 11:12P Chart for @S2U Options for @S2U
Nov 22 1462'2 1470'6 1442'0 1445'4 -12'4 1458'0 11:12P Chart for @S2X Options for @S2X
Jan 23 1467'2 1475'2 1447'4 1449'6 -12'4 1462'2 11:12P Chart for @S3F Options for @S3F
Mar 23 1460'2 1464'6 1439'4 1440'2 -13'2 1453'4 11:11P Chart for @S3H Options for @S3H
May 23 1456'0 1461'0 1436'4 1436'6 -13'6 1450'4 11:12P Chart for @S3K Options for @S3K
Jul 23 1453'0 1456'6 1431'2 1434'6 -10'4 1445'2 11:11P Chart for @S3N Options for @S3N
@W - WHEAT - CBOT
Month Open High Low Last Change Close Time More
Jul 22 876'0 878'0 876'0 878'0 9'2 868'6 11:12P Chart for @W2N Options for @W2N
Sep 22 890'0 896'2 884'0 888'6 4'6 884'0 11:12P Chart for @W2U Options for @W2U
Dec 22 905'6 912'6 900'6 905'6 5'2 900'4 11:12P Chart for @W2Z Options for @W2Z
Mar 23 917'0 921'6 912'4 917'0 6'0 911'0 11:12P Chart for @W3H Options for @W3H
May 23 922'2 927'6 919'2 920'6 5'0 915'6 11:12P Chart for @W3K Options for @W3K
Jul 23 908'4 913'2 904'2 907'2 5'4 901'6 11:12P Chart for @W3N Options for @W3N
@DX - US DOLLAR INDEX - ICEFU
Month Open High Low Last Change Close Time More
Sep 22 104.515 104.720 104.515 104.710 0.246 104.464 11:11P Chart for @DX2U Options for @DX2U
Dec 22 104.200 104.260 104.200 104.260 0.176 104.084 11:11P Chart for @DX2Z Options for @DX2Z
Mar 23 103.940 103.684 Chart for @DX3H Options for @DX3H
EB - BRENT CRUDE - ICEEC
Month Open High Low Last Change Close Time More
Sep 22 109.49 110.12 108.88 108.93 - 0.10 109.03 11:12P Chart for EB2U Options for EB2U
Oct 22 106.03 106.63 105.41 105.44 - 0.15 105.59 11:12P Chart for EB2V Options for EB2V
Nov 22 103.30 103.82 102.61 102.62 - 0.20 102.82 11:12P Chart for EB2X Options for EB2X
My Custom Markets
Symbol Open High Low Last Change Close Time More

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DTN Grain News
DTN Early Word Grains 06/30 05:51
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FARM MARKET NEWS - CORN REPORT FOR Thu, June 30
FARM MARKET NEWS - SOYBEAN AND WHEAT REPORT FOR Thu, June 30
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Local Radar
Stanford, IL
Chg Zip Code: 
 
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Local Forecast
Stanford, IL
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High: 81°F
Low: 69°F
Precip: 58%
High: 84°F
Low: 64°F
Precip: 0%
High: 86°F
Low: 65°F
Precip: 0%
High: 88°F
Low: 68°F
Precip: 52%
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Low: 70°F
Precip: 64%
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Local Conditions
Stanford, IL
Chg Zip Code: 
Temp: 72oF Feels Like: 72oF
Humid: 71% Dew Pt: 62oF
Barom: 29.94 Wind Dir: SSW
Cond: N/A Wind Spd: 6 mph
Sunrise: 5:30 Sunset: 8:30
As reported at Andys House, IL at 11:00 PM
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