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 initially rallied this morning, but faded at midday as the fund buying faded. The continued wet weather continues to offer support with crop ratings expected to fall again this afternoon. The Illinois, Indianan, and Ohio corridor was wet again last week, and that is where the brunt of the deterioration in ratings has been. Funds had been holding a sizable short position heading into the recent bounce, and their short covering has been the large push by the recent 40 cent rally. Open interest in corn was down sharply on Friday, which also supports short covering as opposed to new buying. There was some suggestion at midday that the forecast turns a little warmer and drier after the holiday, which also may have contributed to the weaker close. The USDA report will be out tomorrow at 11:00 a.m. The USDA will update acreage and stocks. Grain stocks as of June 1st are expected to be record large at 4.512 Bln. bu. Corn acreage is expected to be slightly less than the March estimate at 89.173 Mln. Export inspections totaled 40.963 Mln. bu. Total inspections now stand at 1.414 Bln. bu. and need to average just shy of 46 Mln. bu. to meet the USDA goal.
Soybeans traded higher early as well, but did fade late in the session. Lower expected crop ratings this afternoon offered early support, but Nov. beans have found resistance near $10.00. Some hint of improved weather after the holiday eased prices towards the close. Rain chances do persist all of this week, however. The USDA report tomorrow is expected to show the highest June 1st bean stocks since 2008. It is also expected to show a higher acreage number from March at 85.187 Mln. bu. Much doubt will be raised about the bean acres number after the report as there is expected to be quite a few bean acres not planted this summer. Export inspections totaled 10.9 Mln. bu. for beans. Total inspections now stand at 1.759 Bln. bu. Bean inspections need to average 5.6 Mln. bu. per week to reach the USDA goal.
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.
The future prices and elevator bids on this web site are delayed. For the current bids please check with your local elevator.
Premier Cooperative's bids are alway subject to change without notice from this web site.