REDUCED DRYING Premier Cooperative will be offering a reduced drying program starting on Tuesday September 16. The reduced rate will be 1.5 cents per point of moisture removed up to 27% moisture. Above 27% will be full rate, anything over 30% moisture can be dumped but the farmer should be shut off or move to another field. Volume will determine the length of the program; it will be at least through Thursday, Sept 18..
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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 futures managed a small gain today as December futures closed higher for the 2nd day in a row for the first time in nearly a month. The FSA monthly acreage update was a catalyst for the higher trade. Overnight, the FSA stated that corn acreage enrollment now totals 84.8 Mln. acres. This is up 1.48 Mln. acres from the August estimate. Preventive planting acres add up to 1.58 Mln. acres so far. This data collection is far from complete, but analysts do try to use these monthly reports to prophesize on what the USDA will do to corn acres. Most feel that planted corn acres are too high, but there is great variance between the different predictions. It is likely that the yield could easily make up for any downgrade in acres, and the bottom line will remain that there is plenty of corn left over at the end of the balance sheet. Corn ratings were unchanged at 74% good to excellent. This lofty rating continues to the trade that corn yields will be very good. Maturity levels are still being closely watched. Corn is 27% mature with the average of 39%. Corn is 4% harvested compared to the average of 9%. The weather forecast is calling for plenty of sunshine and gradually warmer temperatures as the week goes on. Rain chances return again over the weekend.
Soybeans were higher initially on the FSA acreage update, but eventually settled lower on continued talk of big yields in the south and prospects for harvest to start soon in the cornbelt. The weather looks more conducive for bean maturity as the forecast calls for plenty of sunshine over the next few days. Yields reports in the Delta continue to be very good with talk of record yields in many parts of the south. The Delta soybean harvest is estimated at 20 to 25% complete. The FSA acreage update showed bean acres at 80.8 Mln. acres, up 1.6 Mln. acres from the August update. Preventive planting acres for soybeans were estimated at 840,000 acres. The USDA is expected to adjust acres in the Oct. supply/demand report, but higher yield adjustments should offset any lower acreage estimate. The USDA left the soybean ratings unchanged at 72% good to excellent. Soybeans are 24% dropping leaves versus the average of 32%.
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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