REPORT REMINDER:
Thursday, Feb 9 at 7:30 AM,
US/ WORLD SUPPLY and DEMAND
Tax Information Returns (1099's) were mailed out 1/30/12.
The mailing included a report listing Gross Grain Payments to you in Calender Year 2011.
Please review the information carefully and let us know as soon as possible if you believe our records are in error.
The deadline for us to submit the information is April 2, 2012.
Thank you for using Premier!
FARM BIN DELIVERIES: Now accepting corn and beans to be settled toFREE PRICE LATER.
It will be free through August 31, 2012 at which time it will incur the Harvest 2012 rate.
Grain for free price later will be accepted based on space availability per location.
Please contact your delivery location manager to make your intentions known.
2/07/12 MARKET COMMENTS: The markets traded mixed today. Corn closed down 2 , soybeans down 1, and wheat down 6 1/4. Traders are getting ready for Thursday’s USDA WASDE report.
Corn futures closed slightly lower today. News, for the most part, continues to be lacking. In fact, the range today was only 6 cents. During the 2011 trading year, the average daily range for corn was nearly 20 cents. So by those standards, today would be considered a slow day. The market is expected to remain quiet ahead of the crop report on Thursday. The USDA will update demand figures, thus creating a new ending stocks number. The report is expected to be friendly with ending stocks estimates some 50 Mln. bu. lower than last month. Corn export demand is estimated to grow due to lower export potential out of Argentina. Argentina’s corn production is expected to drop to 22.5 MMT, from 26 MMT last month. Brazil’s corn crop is expected at 59.8 MMT, down from 61.0 MMT last month. The outside markets are still being closely watched as Greece works through more debt concern issues. The dollar did turn lower during the session on the prospects that Greece will get a new deal done. Supposedly they are currently drafting a new list of reforms to enable the receiving of their 130 Bln euro bailout package.
Soybean futures finished marginally lower. Like corn, soybeans had a quiet day by today’s standards. The higher dollar was negative earlier, but when the outside markets recovered so did beans. The nearby contract had traded higher for 5 consecutive sessions so some profit taking was in order today. The USDA report on Thursday is expected to show bean ending stocks mostly unchanged. As for S. American production, estimates for Argentina production are 48 MMT, down from the Jan. number of 50.5 MMT. Brazil is expected to be 71.3 MMT vs. 74 MMT in January. The weather in S. American remains the same with more showers expected over the next few days. Bean futures are expected to remain choppy into the report. Wheat futures were weaker as the temps in the Black Sea region have begun to moderate. Extremely cold temps were viewed as a negative to wheat production there as some areas had limited snow cover. The wheat ending stocks number is expected to be unchanged from the previous report.
FERRUARY USDA WASDE REPORT
2/9/2012 @ 7:30 am
Trade Est.
Trade Range
Jan
USDA
USDA
Stocks 11/12 (thousand bu)
Corn
0.791
0.680-0.846
0.846
Beans
0.273
0.245-0.300
0.275
Wheat
0.867
0.836-0.935
0.870
WORLD
STOCKS 11/12 (mmt)
Corn
124.9
128.1
Beans
61.9
63.4
Wheat
209.0
210.0
ARGENTINA
PRODUCTION (mmt)
Corn
21.6
18.8-24.5
26.0
Beans
48.0
45.0-50.0
50.5
BRAZIL
PRODUCTION (mmt)
Corn
59.1
58.0-60.5
61.0
Beans
71.2
69.5-73.5
74.0
Look for choppy markets to continue. HAVE A GOOD 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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