CROP TOUR TALLY RESULTS; Find them on the "Policies & Programs" tab
ATTENTION: Does setting a floor now with UNLIMITED UPSIDE potential, if the market rallies, sound good to you? Call us about the FOUNDATION contract. Kurt- Sidney 688-2307 Tom- Tolono 485-6630 Maynard- Dewey 897-1111
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.
Overnight the markets tried to recover from yesterday lower markets. Soybeans are firmer this morning but corn is still under pressure from thought of a big crop and plenty of world feed wheat. Currently corn is trading 1-2 lower, soybeans 2-4 higher, and wheat mixed. The outside markets are trading firmer this morning with crude oil trading higher, gold higher, and the dollar lower.
IN OTHER NEWS:
**** 6-10 Day Forecast: Normal to Above Temps. Above Normal Precip. **** Grain markets mixed this morning. Corn lower as weather continues to be a negative and US Corn prices are not competitive in the world markets. New crop Soybeans firmer on short covering and liquidating of Bull spreads. **** Crude Oil higher $94.11 up .25 **** Gold higher $1284.90 up $1.10 **** The Dollar is trading lower vs. most major currencies this morning. **** World stocks, Japan up 0.9% China up 0.1% Europe up 0.9% Dow futures up 16 points. **** Dalian Exchange, Soybean, Corn and Soybean Meal futures higher. **** Palm Oil off 1.7% **** Chinese traders say Soybean inventories at ports have dropped significantly and a further decline is anticipated in the near term. **** The head of the Russian Grain Union says Russia’s 2014/15 grain crop may beat the record 2008/09 crop of 108 mmt. Their current estimate is at 104 mmt. **** Some trade chatter yesterday afternoon of SDS showing up in some Soybean fields. **** Tuesday Funds, Sold 4,000 Corn. Bought 1,000 Wheat, 2,000 Oil. Even Soybeans and Meal. **** Soybean basis bubble burst Tuesday. Nearby CIF Soybeans fell 70 censt to +265, Decatur fell $1.75 to +200, STL fell 90 cents to +30, Claypool IN. fell $1.00 to +300 The record setting premiums bid the last few days sparked some old crop movement but merchandisers will continue to struggle to source Soybeans for another couple of weeks. **** Barge freight firmed on all most all rivers yesterday as traders get ready for what looks to be a record Corn and Soybean harvest. St. Louis freight bid 500% vs. 350% last year on this date, Illinois River 525% vs. 3755 last year and Ohio River 525% vs. 400% last year. **** Brazil will hold their second Corn auction tomorrow and will offer 1.75 mmt. Last week a total of 898,000 mt. traded at the first auction. Brazil Corn exports are starting to pick up with 1.3 mmt. exported in the first two week of August vs. 591,000 mi. in all of July and just 88,1000 mt. in June. **** Taiwan tendering for 60,000 mt. Brazil or South African Corn for Oct/Nov. US Corn was excluded in the tender with traders citing US prices as being too high.
Premier’s Cooperative Crop tour released a yield estimate of 211/bu on 8/21 ProFarmer Crop Tour Finish Thursday 8/21 released crop estimate of 14.093 billion bu with a yield of 169.3 on Friday 8/22 USDA Weekly USDA EXPORT SALES Thursday 8/21/2014 @ 7:30 am Weekly USDA EXPORT INSPECTIONS Monday 8/25/2014 @ 10:00 am USDA CROP PROGRESS Monday 8/25/2014 @ 3:00 PM USDA Monthly WASDE Report 9/11/2014 @ 11:00 am
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.
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