PREHARVEST SALES; If that sounds good to you, call your "Settlement Elevator" to learn the details! Current offerings include: AgriVisor Insight, 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.
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Corn finished little changed today after trading both sides of yesterday’s close. CZ was ½ cent firmer and CH also closed ½ cent higher. Commodity funds were sellers of an estimated 2000 corn contracts prior to noon. The market spent much of the day in negative territory, but rallied late on light short covering and as the Dollar fell from levels established early in the day. The weather was also somewhat supportive with much of the Midwest expecting rainfall of .5” to 1.5” over the next 24 to 36 hours. Corn remains oversold, but with nearly all of the harvest still ahead of us, it’s difficult to envision much of a rally in the near term. The weekly ethanol report released this morning was negative to prices as last week’s production of 6.80 million barrels was down 0.90% from the previous week. Stocks of ethanol increased to 18.8 million barrels, the highest level in 18 months. Tomorrow’s export sales report is expected to show
The soybean market staged a modest rally late in the session which erased earlier losses and allowed SX to settle 3 ½ cents firmer and SF to close 3 ¾ cents better. Commodity funds sold an estimated 3000 soybean contracts as of midday. Like corn, beans benefited from light short covering as well as some late day weakness in the Dollar. The wet period expected for the Midwest the next day or two will shut down harvesting, but dry conditions are expected next week for most of the Midwest which should allow good harvest progress to be made. The weekly export sales report will be released tomorrow morning with traders expecting bean sales of 25.5 to 36.5 million bu. which would be well below last week’s huge number, but well above the average of 13.7 million bu. needed each week to reach the USDA projection for 2014/15. The USDA will release its October production and S/D reports next Friday, October 10th.
USDA Weekly USDA EXPORT SALES Thursday 10/1/2014 @ 7:30 am USDA Weekly EXPORT INSPECTIONS Monday 10/06/2014 @ 10:00 am USDA CROP PROGRESS Monday 10/06/2014 @ 3:00 PM USDA QUARTILY GRAIN STOCKS REPORT 10/06/2014 11:00 am USDA Monthly WASDE report Friday 10/10/2014 @ 11:00 am NOPA CRUSH Wednesday 10/15/2014 7:30 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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