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 started out trading lower and are now trading higher on unrest between Russian and Ukraine. Currently corn is trading 1-2 higher, soybeans 3-6 higher, and wheat unchanged to 1 higher. The outside markets are weaker this morning with crude oil trading lower, gold lower, and the dollar higher.
IN OTHER NEWS:
Tuesday, September 2nd, 2014 · Deliveries: Corn: 0 through 3/3/14; Soybeans: 0 through 7/31/14; Wheat: 49 through 6/30/14 w/ JPM reissues 10; Meal: 0 through 6/10/13; Soybean Oil: 259 through 8/22/14 · China sold 39.15% of the 337,539 MT of beans offered from state reserve, up from 30% sold last week with average prices down 1 yuan/ton at 4,125 yuan/ton. · The UN FAO said the Ebola outbreak in Liberia, Sierra Leone and Guinea is “causing grave concern” about food security. Movement restrictions and migration due to Ebola are threatening harvests there. · Safras forecasted 2014/15 Brazil corn production at 77.75 mmt, up from 77.19 mmt in 2013/14. They see first corn crop at 4.96 mil ha, down 9.5% from last year with 7.96 mil ha planted for the Safrinha, about the same as this year. · UN said that droughts in Central America has left up to 2-3 mil hungry. · Argentina cut their 2013/14 soybean acreage estimate to 19.5 mil ha from 20.0 mil ha. · Brazil exported 2.458 mmt of corn in August vs 591,700 MT in July and 3.049 mmt in August 2013; they exported 4.12 mmt of beans in August vs 6.04 mmt in July and 5.38 mmt in Aug 2013. · Ukraine’s harvested 35.6 mmt of grain from 9.8 mil ha or 66% of the sown area as of 9/1. AgMin said last week farms had complete the 2014 wheat and barley harvest. · S Korea’s NOFI tendered for 140,000 MT of opt origin corn and for Jan/Feb and 55,000 MT of SA or Indian meal for Feb. US or Chinese origin would be considered if offered on the meal. · Israel tendered for 80,000 MT of corn and 25,000 MT of feed wheat. · USDA reported a sale of 123,000 MT of beans to unknown for 2014/15 on Friday · Dalian Closes: Corn (Jan): $9.84 (+$0.01); Soybeans (Jan): $20.49 (+$0.15)
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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