. Connection Central Connection Central has been restored.
PHONE TEXTS or EMAIL ALERTS: Contact your local elevator to receive location specificinformation. It is the quickest,most up-to-date information (ie. hours of operation) about your delivery location.
PREHARVEST SALES for 2015 Crop: If that sounds good to you, call your "Settlement Elevator" to learn the details! Current offerings include: AgriVisor Insight, CHS Compass, Average Pricing, and Option Based Contracts. As always "Offers" are a very good way to manage both your time and your marketing.
PLEASE BE AWARE: In light of recent developments we have re-evaluated our policy regarding acceptance of corn with traits that are not approved for worldwide consumption. To protect access for all Premier members to all available markets we will NOT be accepting Duracade® corn grown in 2014. A letter was sent to all patrons the week of March 3, 2014 to further explain Premier’s position.
Corn traded both sides of yesterday’s close but ultimately ended lower with CZ down 3 cents and CH losing 2 ½ cents. Corn was supported early on by commodity fund buying as well as indications that U.S. corn is becoming more competitive in export markets. Commodity fund buying totaled an estimated 8000 corn contracts in the pre-noon hours. Technicals were also supportive as corn traded above the 50 day moving average. The weekly ethanol report was slightly supportive as last week’s ethanol production of 6.5 million barrels was 1.2% above the previous week and ethanol stocks declined. Margins are hovering near break-even. Prices turned lower in the last hour of trading as traders turned their attention to the generally good harvest weather forecast for most of the next week and the fund buying slowed. Also weighing on corn was a sharp decline in crude prices which began at midday as well as a rally in the U.S. Dollar. The daily price limit for corn will decrease to 25 cents on November 3rd.
A late day selloff erased what had been moderate gains and sent beans to a lower close. SX was 1 ½ cents weaker and SF was 2 cents lower. Beans spent most of the day in higher territory boosted by commodity fund short covering and support from a strong soymeal market. Funds were buyers of an estimated 9000 soybean contracts as of midday while soymeal surged higher early in the day on tight supplies as the recent wet weather has shut down harvesting of soybeans east of the Mississippi for much of the past two weeks. Also supportive today was the announcement that China had purchased 419,000 MT’s of U.S. soybeans and that another sale of 113,000 MT’s was made to unknown destinations. Prices turned lower late as the fund buying dried up and traders focused on a combination of better harvest weather for the Midwest and improving weather conditions for dry areas of Brazil. Some light rains are forecast across the Midwest tomorrow, otherwise it looks dry until early next week. Northern and Central Brazil will see substantial rainfall over the next two weeks, restoring soil moisture for early soybean development. The daily price limit for soybeans will decrease to 70 cents on November 3rd.
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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