REGIONAL CUSTOMER MEETINGS: Come find out what is happening in your cooperative, learn about marketing options through Premier & hear the latest market outlook on fuel, and your agronomy inputs. Talk to your local facility manager to find out more information. March 4th at Sadorus Town Hall at 8:00 am with a breakfast
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.
PLEASE BE AWARE: Premier is not accepting Duracade® corn grown in 2014.
Corn futures saw a small recovery today, but the range from the last month and a half remains intact. Corn news remains limited enough that it has been more of a follower in recent sessions. The nearby months were able to follow wheat higher today, despite the weakness in beans. The outside markets were quieter today, but since the dollar did not trade higher, it was viewed as a friendly sign. The trade near the bottom end of the current range continues to find some fund buying. The cold and wintry weather has kept corn movement slow and the producer continues to be an unwilling seller on down days, like yesterday. Informa updated its world production forecasts today. They estimated Brazil corn production for 14/15 at 72.4 MMT, down 450,000 tons from its previous estimate. They raised Argentina's corn production to 23.5 MMT, up from 23.0 MMT in their last estimate. Ethanol numbers will be out tomorrow, with the trade watching to see if ethanol stocks continue to build. Ethanol futures prices have been mostly sideways recently, but still sit near multi-year lows. The two week forecast is showing warming temps starting this weekend. It also shows mostly dry conditions, which should aid planting in some parts of the country. It won’t be too long before corn planting prep work is being done in Illinois.
Nearby soybean futures settled slightly lower, but the new crop contracts managed a higher close. The news cycle coming out of the Brazil regarding the truckers’ strike keeps the bean market choppy. It does sound like the strike is slowing getting resolved with just a handful of road blocks currently in affect. Transporation of diesel fuel and harvested beans is improving and bean loadings should be able to continue. Informa lowered its forecast of Brazilian bean production by 1 MMT to 92.5 MMT. It raised its Argentina bean forecast from 57 MMT to 58 MMT. They estimated Brazil bean harvest at 26% complete, versus 41% at this point last year. The $10.00 mark offers support to May beans. Despite the lack of any real production problems around the world, the strong domestic demand for beans keeps the futures market supported.
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.