ATTENTION: Does setting a floor now with UNLIMITED UPSIDE potential, if the market rallies, sound good to you? Call us about the FOUNDATION contract. Kurt- Sidney 688-2307 Tom- Tolono 485-6630 Maynard- Dewey 897-1111
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.
GRAIN FROM BINS Corn & Soybeans delivered now are eligible for FREE DP through Aug 31, 2014
Corn December corn futures opened higher overnight and into the early part of trade today, but by 9:00 am CDT corn succumbed to the oldest adage out there:” Rain makes Grain”. Corn followed wheat lower. September corn closed down 1 cent at $3.61 ½ and the December closed down 1 ¼ cents at $3.69 ½ below the previous support at $3.70.
Weather concerns appear to be few and far between for this year’s corn crop, which has given traders the confidence to sell corn early and often.
China’s import authority said today that they will request certification that all US distillers grain are free of MIR 162.
Funds were estimated net sellers of 2,500 contracts of corn today.
Export sales for corn were very strong at 1.431 mmt, old and new crop
Oilseeds The soybean market traded higher all day, led higher by stronger soybean meal and August option expiration which takes place tomorrow. August soybean meal closed up $3.80 per ton at $395.50. August soybeans were up $.6 ½ at $12.07 ½, September closed up 9 ¾ cents at $11.11 ½ and November closed up 8 ¼ cents at $10.84 ¾ per bushel.
November soybeans closed at their highest level in over a week, soybean meal demand and whispers of potentially dry weather pushed soybeans higher.
Strong exports supported the soybean complex: soybeans 2.677 mmt, soybean meal 442.8 tmt and soybean oil 2,900 tonnes.
Funds were estimated net buyers of 4,000 contracts of soybeans, 3,000 contracts of soybean meal and 1,000 contracts of soybean oil.
August options expire Friday, with first notice day on July 31st.
USDA Weekly USDA EXPORT SALES Thursday 7/24/2014 @ 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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