Premier Cooperative Energy Meeting Come join us for an informational fuel meeting at the Country Junction in Newman, Il January 30th at 8:00am
FREE PRICE LATER : 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 will be limited, starting February 1st due to construction. Please call Shane Drayer at 217 280-0851 for details.
PREHARVEST SALES for 2015 Crop: If that sounds good to you, call your "Settlement Elevator" to learn the details! Current offerings include: CHS Compass, Average Pricing,and Option Based Contracts. As always "Offers" are a very good way to manage both your time and your marketing.
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.
Active trade in corn today with futures giving a go at trading to the plus side late in the session before closing 1-2 cents lower. Funds were sellers of 7,000 contracts by mid-session as long liquidation continues. CH fell 17 cents this week. RSI’s are in the oversold category, which may be garnering a bit of attention. With the U.S. balance sheet settling, it seems the market is turning more attention to weather and currencies. S. American weather is good overall with rains in Argentina and better rainfall expected in Brazil’s drier areas over the next week. Brazil’s SAFRAS estimates corn production at 74.7 MMT vs. 75.5 MMT previously (USDA 75.0) so weather must not be too big an issue. Russian ruble weakening today given credit for weakness in corn and wheat futures. Demand-wise this week, ethanol report showed corn usage at 102.7 mln. bu. – problem is increasing ethanol stocks, lower grind margins, and weak crude oil prices (though they are up $3 as of this writing.) Weekly export sales of 42.1 mln. bu. brings YTD commitments to 1,237 mln. bu., just below last year’s level. Ukraine corn sales are undercutting U.S. offerings and S. American offerings are just around the corner at cheaper values, but the U.S. continues to sell corn into world markets.
Soybeans traded defensively today but off session lows to close 7 cents lower. Funds were sellers of 5,000 contracts by mid-day. SH fell 12 cents this week. Soybeans continue to find pressure from good U.S. and world supplies, especially as concern over A. American supplies wanes. Brazil’s SAFRAS estimates production at 95.0 MMT vs. 95.9 MMT in its last estimate (USDA 95.5 MMT.) Talk of Brazil’s currency falling against the dollar and an increase in Brazilian producer selling caught the attention of the market today in a negative light, which weighed on beans and meal. Weekly export sales of 32.6 mln. bu. were above expectations and bring YTD commitments to 1,656 mln. bu., 97 mln. bu. ahead of last year. China’s estimated purchases are in line with expectations, so if their buying slows, it shouldn’t come as a surprise.
Wheat remains defensive, losing 5-6 cents today and 27 cents this week. (WH traded to $4.80 in late September before rallying into mid-Dec, so there is still downside.) Weekly sales of 20.0 mln. bu. brings YTD commitments to 733 mln. bu. vs. 957 at this time last year. Egyptian wheat tied up in Russian ports on export tax issues. Trade awaits better U.S. export demand.
Snowmageddon 2015 on the way! Stay safe ?
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.