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 traded lower today making fresh six month lows as a favorable Midwest weather forecast weighed on prices. The 6-10 day weather outlook calls for warming temperatures and no rainfall until the coming weekend. This should be favorable for planting progress across much of the corn belt as well as growing conditions. U.S. corn planting progress is expected to come in between 18 - 22% complete in this afternoon’s report compared to the five year average of 28%. Traders continue to monitor the avian flu outbreak as they try to gauge the impact it could have on U.S. feed demand. Weekly corn export inspections exceeded expectations this morning coming in at a solid 50.9 mln. bu. There is talk in the market that China is checking incoming DDG cargoes more closely for unapproved GMO strains, pesticides, and residues. Traders wonder if this isn’t China’s way of keeping out foreign imports as they start their corn auctions to discard large government inventories. Friday’s cattle on feed report showed more placements in March than expected. Animals on-feed and placements both came in at 100% of last year, while marketings were at 98%.
Soybean futures traded higher today. A USDA announcement of a sale of 158,000 MT’s of old-crop beans to an unknown destination coupled with the unwinding of long corn/short soybean spreads drove prices higher. As of midday, funds were estimated to have bought approximately 4,000 contracts of beans. NASS is expected to release their 1st U.S. soybean seeding estimate this afternoon. The expectation is for 3 - 4% to be completed. Weekly U.S. bean export inspections came in above estimates this morning at 11.4 mln bu. Season to date exports are near 1,683 mln. bu. compared to the USDA’s forecast of 1,790 mln. bu. Brazil’s truck strike continues, although it is on a much smaller scale than what was seen in early March. At this point, Brazilian exporters are not expecting soy or grain movement to be compromised and vessel loadings in Mato Grosso are proceeding as usual.
Daily trading limits were sent earlier. They take effect May 1st.
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.
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.