GOOD FRIDAY All Premier Coopertative offices and elevators will be closed Friday, April 3 in observance of Easter
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 are limited due to construction. Please call Shane Drayer at 217 280-0851 or Frank Sylvester 217 369-1531 for details.
PLEASE BE AWARE: Premier is not accepting Duracade® corn grown in 2014.
Corn futures closed firmer today. Tomorrow will bring the much anticipated stocks and acreage reports, both of which will be released at 11:00 a.m. Average estimates forecast corn acres at 88.73 mln. and quarterly stocks at 7.61 bln. bu. The corn acreage and stocks portion of these reports feel more important than soybeans, as the balance sheets are a bit tighter for both 14/15 and possibly for 15/16. Barring any big surprises tomorrow, the market will likely shift its focus to the U.S. weather forecast and spring planting progress. Current weather models would suggest the first part of April will see a series of fronts moving through the Midwest with the lower Midwest remaining on the wet side. Crop progress reports for selected Delta and Plains states will be released later this afternoon. Last week, only 14% of TX’s corn crop had been seeded compared to an average of 37%. MS corn plantings were estimated at 0% complete compared to their 17% average and LA corn seedings were forecast at 1% planted. The first national crop progress report should be released a week from today at 3pm. Weekly corn export inspections came in on the low side of expectations this morning at 30 mln. bu. This was a decrease of 9 mln. bu. from the previous week.
Soybeans traded firmer the majority of the session on short-covering but were unable to maintain any substantial gains in front of tomorrow’s reports as the trade expects the USDA to forecast a second consecutive year of record U.S. soybean plantings. The stocks and acreage reports are expected to show 85.9 mln. acres of soybeans in prospective plantings and quarterly stocks of 1.346 bln. bu. Weekly U.S. soybean export inspections came in on the high side of expectations this morning at 24.1 mln. bu. This was an increase of 5 mln. bu. from the previous week. South America’s harvest continues to progress without too many problems. Brazil’s bean harvest is estimated to be near 70% complete while Argentina’s harvest is ramping up. Yield reports for both southern Brazil and Argentina continue to look good. Brazil’s truck drivers are expected to continue to operate at full capacity into late April, when their next meeting is scheduled with the government.
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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