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YELLOW CORN DiscountSchedule
YELLOW SOYBEANS DiscountSchedule
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Bids*
Updated 9/26/14 3:23PM
Soft Red Winter Wheat (Composite) (QBW)
Date
Futures
Basis
Opt
Cash
07/01/15 - 07/31/15
5.09
USD/BU
-45.00
USD/BU
N
4.64
USD/BU

Yellow Corn (Composite) (QBC)
Date
Futures
Basis
Opt
Cash
09/29/14 - 10/03/14
3.21
USD/BU
0.00
USD/BU
Z
3.21
USD/BU
10/06/14 - 10/17/14
3.21
USD/BU
-12.00
USD/BU
Z
3.09
USD/BU
10/20/14 - 10/31/14
3.21
USD/BU
-14.00
USD/BU
Z
3.07
USD/BU
11/03/14 - 11/14/15
3.21
USD/BU
-11.00
USD/BU
Z
3.10
USD/BU
Yellow Soybeans (Composite) (QBS)
Date
Futures
Basis
Opt
Cash
10/01/14 - 10/31/14
9.18
USD/BU
-56.00
USD/BU
X
8.62
USD/BU
11/01/14 - 11/15/14
9.18
USD/BU
-34.00
USD/BU
X
8.84
USD/BU
11/16/14 - 11/30/14
9.18
USD/BU
-16.00
USD/BU
X
9.02
USD/BU
03/01/15 - 03/31/15
9.35
USD/BU
-12.00
USD/BU
H
9.23
USD/BU
* Any information is subject to change with out notice. All information posted here is subject to final confirmation by ADM. Please contact this location at the above number to confirm posted Information.
Market Intelligence
ADMIS Daily Grain Commentary
ADMIS AM Market View & Video
Grain calls mixed/ lower. US dollar, Crude, most commodities are higher. Markets still worried about slow World econ, Hong Kong protest and increase terror threat.

Grains are dealing with record World corn, soybean and wheat supplies, lower World prices, the higher US dollar limiting US export share esp in wheat and corn and talk how big are the US 2014 corn and soybean crops and how low are prices going.

About ADMIS Daily Grain Commentary
Marketing Partners Advisory
M.P.A 9/29/14 Recommendations and Conf Call Recap
Marketing Partners Advisory
Position Update and Conference Call Recap
September 29, 2014

All price recommendations below are futures price references (not cash equivalent)

CORN:
2014-crop – We are 40% sold at Chicago December 2014 $5.18
Recommendation: sell 5% at Chicago March 2015 $3.80
2015-crop – We are 5% sold at Chicago December 2015 at $5.02

SOYBEANS:
2014-crop – We are 60% sold at Chicago November 2014 $12.25
Recommendation: sell 5% at Chicago March 2015 $10.25

2015-crop – We are 5% sold at Chicago November 2015 $12.03

WHEAT:
2014-crop
SRW – We are 60% sold at Chicago Dec 2014 $6.88
HRW – We are 85% sold at Kansas City Sept 2014 $7.59
HRS - We are 50% sold at Minneapolis December 2014 at $7.82

2015-crop
SRW – We are 40% sold at Chicago July 2015 $7.18
Recommendation: sell 10% at Chicago July 2015 $6.25
HRW – We are 30% sold at Kansas City July 2015 $7.65
Recommendation: sell 10% at Minneapolis December 2015 $7.00
________________________________________
Marketing Partners Advisory
Conference Call Recap
September 29, 2014

Comments and discussion items from the weekly conference call of the recommendations group of Marketing Partners Advisory include the following –

1. Harvest activity is now taking place in most areas of the US. While some of the past weekend’s rain activity may have slowed the harvest in some areas, the forecast for this week suggests most areas should be able to move forward with the harvest. Yield reports for corn and soybeans continue to be generally excellent. There still remains an expectation the October data from the USDA will reflect some minor changes to yields, although not to the extent it meaningfully changes the task of price in the coming weeks and months.
2. Although much of the current conversation is focused on the harvest and yield reports, we continue to see evidence new crop demand is working to stem inventories as producer selling (it is early in many areas) still remains relatively light. We have felt and hear anecdotal evidence prior/earlier producer sales for new crop inventories to date are noticeably small. We also are hearing reports of producer interest in marketing alternatives which allow the producer to stay open on pricing via the use of delayed/price later and option strategies.
3. Many areas of US HRW and SRW growing areas continue to experience very good planting conditions and early season growth as a result of recent weather events. At this point we do not sense any meaningful change relative to producer interest in planting winter wheats as a result of the lower price environment.
4. Areas of the western Corn Belt are now seeing new crop prices for corn well below $3 and new crop soybean prices well below $9. While much of this is in response to the lower futures markets it also reflects historically high freight costs which are a consideration in the basis component of price. As a result of the lower price and the carrying charge price structure producer reluctance to price new crop inventories is commonplace. It is interesting to consider how the freight markets and carrying charge price structure appear to be at odds with the task of the market to stem large amounts of new crop inventories in the early stages of the new crop year. Distressed inventories (meaning harvest inventories which cannot find longer term storage) may be able to address this issue should they materialize.
5. At this time we are generally reluctant to offer new/additional pricing recommendations preferring to let things settle a bit. Soon the discussion of new crop considerations for the southern hemisphere will become more meaningful for grains and oilseed prices as well as the early discussion of northern hemisphere fall planted crops and the early acreage considerations for spring 2015 planted crops.
6. We continue to see fund length in the corn futures market. This issue has been a provided a bit of concern over the past few months as some fear further fund liquidation may be needed to flush the market to price lows.


Best Regards – The Recommendations Group of Marketing Partners Advisory
About Marketing Partners Advisory
Doug Roose Becca Bunton
ADM - Benson Quinn
BQCI Morning Comments
...

Corn
Corn prices on Wednesday managed to settle
higher by ½ a penny after making a 5 year low (Sep 22,
2009) in earlier trade. Other grain and oilseed markets
experienced the uptick in today’s trade also as WZ closed
1 ¼ cents better and SX was up 3 ½ cents. Spreads
showed little if any change in corn at the end of the
session and Globex...

Oilseeds
It was a two-sided session that had beans closing
higher as technical short covering gained an upper hand on the
market today due to a general lack of sellers. The commercial
hedger (seller) was out of the game as rains over central and
western Midwest sideline the harvesters while yesterday’s first
drop in open interest in many weeks, a...

Hard Red Spring Wheat
Wheat futures traded lower early before making a
midsession recovery into higher territory and eventually
settling mixed. MWZ finished down 1 ¾, with KWZ off ½ and
WZ +1 ¼. The early selling pushed the hard wheat contracts
into new lows for the move, with 530 in MWZ and in KWZ
taken out.
The overnight session was mostly uneventful, ...

About ADM - Benson Quinn
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Futures
SOYBEANS
Last:
Change:
High:
Low:
918'0
1'2
918'2
915'0

* Futures composite price shown, delayed at least 10 minutes.
Weather for CLINTON, IASee C°
Current Conditions
72º

Feels Like 72º
High 73º Low 48º

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