REGIONAL CUSTOMER MEETINGS: Come find out what is happening in your cooperative, learn about marketing options through Premier & hear the latest market outlook on fuel, and your agronomy inputs. Talk to your local facility manager to find out more information. March 3rd at Homer Community Building March 4th at Sadorus Town Hall All meetings will start at 8:00 am with a breakfast
FREE PRICE LATER :
now available (through 8/31/15) on corn and beans delivered out of your bins on space available basis. Call your local elevator for details . GRAIN DELIVERIES TO DILLSBURG will be limited, starting February 1st due to construction. Please call Shane Drayer at 217 280-0851 for details.
PLEASE BE AWARE: Premier is not accepting Duracade® corn grown in 2014.
Corn finished the day 3½ to 4¾ cents higher in active trade with funds buying 4,500 contracts by midsession on short covering. Strength in corn this week seems tied to following soybeans, but CH fell ¾ of a cent this week: so much work for so little change. Not much in corn news for a change in price direction this week with the weekly ethanol report showing 99.4 mln. bu. of corn used but ethanol stocks still burdensome enough to cause concern. Weekly corn sales of 28.2 mln. bu. bring YTD commitments to 1,370 mln. bu. while world values undercut U.S. offerings. A bright spot is the continued increase in egg sets and chicks placed regarding U.S. poultry demand for feed. Also, Saudi Arabia bought 140 tmt U.S. corn and China bought 120 tmt U.S. sorghum split between this year and next marketing year regarding delivery.
Wheat rebounded nicely today, closing 14 cents higher as funds covered some short positions, buying 3,000 contracts by mid-day. Strength also tied to lack of deliveries (zero) and chilly weather/winter kill concerns. For the week WH gained 7 cents.
Soybeans closed 5-6¾ cents higher nearby and even to 1 cent lower in new crop. For the week SH gained 31 cents. Funds were buyers of 5,000 contracts by mid-day. The storyline this week for soybeans was transportation issues in Brazil due to a trucker’s strike and it seems this had more impact on trade than expected as the week began. We now have estimates popping up regarding how many roadblocks there are at any given time along Brazil’s highways! As the week has progressed, movement seems to be improving, and unless soybeans start rotting in the field, production is not affected. Settling the strike seems a haphazard affair with the trade anticipating progress over the weekend. Bean deliveries to ports have improved somewhat with Santos having roughly 5 days of supply on hand and Paranagua having just 3 day’s supply. Argentina’s latest production estimate is 58 MMT vs. USDA’s 56.0 MMT and the trade seemed not to care.
Federal crop insurance February averages: CZ $4.15, SX $9.73. March – in like a lion out like a lamb. Have a safe weekend
HAVE A PREMIER DAY The information contained in this report is believed to be reliable but is not guaranteed to accuracy or completeness by Premier Cooperative, Inc. This report is provided for information purposes only and is not furnished for the purpose of, nor intended to be relied upon for specific trading in commodities here in.
The future prices and elevator bids on this web site are delayed. For the current bids please check with your local elevator.
Premier Cooperative's bids are alway subject to change without notice from this web site.