GRAIN FROM BINS
Now accepting Corn sold for January 2014 Soybeans delivered after Dec 10,2013
are eligible for FREE DP through Aug 31, 2014 Corn delivered after Jan 1, 2014
will be eligible for FREE DP through Aug 31, 2014
(on space available basis, call your elevator for details)
Market a portion of your bushels through a professional
(AgriVisor, Doane, ProFarmer) by contracting with Premier.
Call your local elevator for details, enrollment ends 12/31/13
GIFFORD TORNADO RELIEF FUND
If you want to donate,
just call your local elevator to designate
commodity and number of bushels;
we will send the dollars to the account that has been set up.
A very weak market today as prices head back down towards the lows made earlier this month of 4.18 ½ in the CH. Funds were very large sellers of between 10,000 and 15,000 contracts in the session. Some attribute the price weakness to new cases of bird flu in China along with ideas that future corn cargoes will be rejected by them. Rumors of 2 or more cargos cancelled by China today. DDG’S might also be included in the rejection list due to the banned GMO strain. A group of 10 U.S. senators introduced a bill that would eliminate the corn mandate in its entirety. Ethanol suddenly has lost some of its political favor. It is appearing that the suggested EPA mandate of 13.0 bln. gals. will become law for 2014. That suggests corn usage near 4.8 bln. bu. Weekly export sales were at the low end of trade guesses at 27.4 mln. bu. Sales for the year now total 1.051 bln. bu. compared to 492 mln. bu. one year ago. The USDA announced a 120,000 ton corn sale to unknown for the 13/14 crop year this morning.
Wheat made new contract lows once again on fund selling as well. India sold wheat into the world market at prices competitive with the EU. Producers not selling any bushels. River logistics will become an issue if the very cold temps continue. Ice 5-6 inches thick reported on Peoria Lake. Freight firmer.
Soybeans also heading back to the price lows made earlier this month. Fund selling dominated the weakness as they sold up to 7,000 contracts of soybeans, 4,000 meal and 3,000 oil. New cases of bird flu in China along with growing ideas that they will soon cancel/roll forward soybean purchases from the U.S. due to the great start for the crop in S. America. The bearish traders are expecting cancellations in the very near future. However weekly export sales were above expectations at 40.7 mln. bu. in the latest week. This brings the yearly total to 1.422 bln. bu. compared to 1.092 bln. bu. one year ago. China purchased 50% of the weekly total. S. American weather is forecasted to be mostly normal.
Weekly USDA EXPORT INSPECTIONS Monday 12/9 @ 10:00 am Weekly USDA EXPORT SALES Thursday 12/12 @ 7:30 am
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.
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