Documents
Yellow Soybeans DiscountSchedule
SOFT RED WINTER WHEAT DiscountSchedule
101010 Yellow Corn DiscountSchedule
Follow UsLearn More

 

Bids*
Updated 9/26/14 4:13PM
Soft Red Winter Wheat (Composite) (QBW)
Date
Futures
Basis
Opt
Cash
06/01/15 - 07/31/15
5.05
USD/BU
-40.00
USD/BU
N
4.65
USD/BU

Yellow Corn (Composite) (QBC)
Date
Futures
Basis
Opt
Cash
09/16/14 - 09/30/14
3.25
USD/BU
-47.00
USD/BU
Z
2.78
USD/BU
10/01/14 - 10/31/14
3.25
USD/BU
-47.00
USD/BU
Z
2.78
USD/BU
11/01/14 - 11/30/14
3.25
USD/BU
-35.00
USD/BU
Z
2.90
USD/BU
12/01/14 - 12/31/14
3.25
USD/BU
-20.00
USD/BU
Z
3.05
USD/BU
Yellow Soybeans (Composite) (QBS)
Date
Futures
Basis
Opt
Cash
09/16/14 - 09/30/14
9.17
USD/BU
-18.00
USD/BU
X
8.99
USD/BU
10/01/14 - 10/31/14
9.17
USD/BU
-27.00
USD/BU
X
8.90
USD/BU
11/01/14 - 11/30/14
9.17
USD/BU
-5.00
USD/BU
X
9.12
USD/BU
12/01/14 - 12/31/14
9.26
USD/BU
17.00
USD/BU
F
9.43
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
9/29/2014 8:40:18 AM
Grain calls are mixed. SX is down. CZ & WZ are up. Funds may be buying wheat vs soybean short. US Dollar, stocks & Crude are lower. Hogs are sharply lower. Good harvest weather and continued reports of above ave yields could weigh on corn and soybeans.

About ADMIS Daily Grain Commentary
Marketing Partners Advisory
M.P.A 9/22/14 Recommendations and Conf Call Recap
9/23/2014 9:44:10 AM
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
Recommendation: sell 20% at Chicago December 2014 $4.50
Recommendation: sell 10% at Chicago December 2014 $4.65
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
Recommendation: sell 10% at Chicago November 2014 $12.00

2015-crop – We are 5% sold at Chicago November 2015 $12.03
Recommendation: sell 5% at Chicago November 2015 $ 12.07

WHEAT:
2014-crop
SRW – We are 60% sold at Chicago Sept 2014 $6.88
Recommendation: sell 20% at Chicago Sept 2014 $5.75
Recommendation: sell 20% at Chicago Sept 2014 $6.00
HRW – We are 85% sold at Kansas City Sept 2014 $7.59
Recommendation: sell 10% at Kansas City Sept 2014 $7.50
HRS - We are 50% sold at Minneapolis December 2014 at $7.82
Recommendation: sell 10% at Minneapolis December 2014 $7.35

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 22, 2014

In a typical year it is common a number of questions will be asked as the industry moves into and through the harvest cycle. What will be the price lows? When will they be realized? How big is the crop? Will there be a meaningful price rally once the market realizes the price lows? Again these are common questions for this time of year, but this year there seems to be even more emphasis on these questions given the magnitude of the price declines in the grains and oilseed markets and the potential impact this year’s price developments may have on the industry going forward.

Some thoughts on these questions -

1. The crop is going to be historically large both domestically and globally. The same can be said for the totality of the new crop year inventories, whether one is considering the inventory question by commodity or collectively. We do not anticipate the fine tuning of the crop size in the next few weeks will meaningfully impact the exact measure of the price lows, but rather may be more important to the issue of what happens later in the crop year as the market begins to assess the 2015 production cycles and even later still as the market transitions to the 2015 harvest. Picking a price low is a game of chance. There are many moving parts which go into the process of picking “the” price. Perhaps a better way to address this issue as a producer or consumptive user may be to let the market and price action tell one what is the price low. If the price low truly is the price low, it may matter little if one misses it by a bit in price and time to gain greater assurance it truly is the price low. There are signals technically which will likely signal the price low as well as some signs from a more traditional perspective. They may include – evidence the market is reaching to access supplies, indications the market is sensing a southern hemisphere production problem, completion of the harvest process at the farm and beyond, etc. We will also suggest the most meaningful realization of price lows for both the producer and consumptive user may be the cash market rather than solely the futures market. Both the producer and consumptive user ultimately deal with cash grain prices and not just the futures market. In a year in which supplies are strong and demand is robust the basis markets may do more work to address the issue of defining the price lows than in recent years.
2. Historically the grains and oilseed markets have exhibited a tendency to find price lows when the harvest is in the area of 50% complete. However there is also some history the markets can stay around the price lows for a period of time in years when supplies are ample and the markets have a hard time earning the carry. In those years the price premiums in the back months of the price structure have a tendency to decline to the lower prices of the front months of the price structure as time goes by.
3. As far as the bigness of this year’s new crop production, the early harvest reports are tending to confirm the past couple months’ expectations for yields to be historically high. Reports from harvest to date are generally very robust in most areas; setting the stage for sentiment the USDA may again increase yield and production data in the coming months.
4. The issue of the extent of a post-harvest price rally is of interest to both producers and consumptive users. This is always an interesting question which tends to prompt another question. The other question is – In what time frame? If one is considering the question in a vacuum which excludes the discussion of the potential for the next production cycle, the current supply and demand data may suggest a post-harvest rally may be limited. However that is not the real world as there is no way the markets can escape the discussion of the next production cycle considerations as the crop year unfolds and the impact that will have dragging the now old crop markets higher or lower than the harvest lows of the current production cycle.

The weather – At this point the two week weather forecast for the US suggests ideal crop maturation and harvest are in the offing. There was some adverse weather in some portions of the US late last week and into the weekend with some minor frost in the northern Corn Belt and some hail across portions of the central growing areas of the US. We do not believe these weather developments prompt any meaningful concern for US production potential for corn or soybeans. The conversation however should not be limited to the US forecast only as the markets are in the early stages of focusing on southern hemisphere production issues. There too we do not see weather considerations which appear to be a threat to early season production developments and/or production projections.

As we have mentioned in the past, we continue to see evidence demand for new crop inventories is strong, at least in the short term. The systems of the industry at the farm and beyond are going to be asked to do much in the coming months to address the harvest and stem new crop demand. Producer sentiment relative to price finalization of new crop inventories remains one of preferring to wait to price rather than that of aggressive pricing interest. We anticipate the willingness to price may increase later in the harvest cycle if yields prove to be overwhelmingly positive and/or on-farm storage space limitations are realized.


Best Regards – The Recommendations Group of Marketing Partners Advisory
About Marketing Partners Advisory
Doug Roose Becca Bunton
ADM - Benson Quinn
BQCI Morning Comments
9/29/2014 8:16:17 AM
...

Corn
9/29/2014 3:33:37 PM
US corn futures caught a wave of selling early in the
overnight session on weekend harvest progress prior to
recovering when new lows for the move didn’t attract
additional selling. With a modest round of profit-taking,
corn would enjoy a slightly firmer tone in orderly light
volume trade. Slight improvements to the technical
stru...

Oilseeds
9/29/2014 4:25:52 PM
Beans closed higher today on bout of short covering
that seemed to be tied to a lack of fresh bearish news rather
any sort of bullish input. The bearish production stories
already seems to be priced in to the market: big crops continue
to get bigger and today’s price action seemed to indicate the
market is getting tired of the story. The...

Hard Red Spring Wheat
9/29/2014 3:33:59 PM
Pre-report trading in US wheat futures saw a round of
profit-taking overnight and a nice recovery from lower trade
early in the session. The Chicago market led the rallies with
help from the record short fund position reported as of last
Tuesday on the COT report. Adding in the oversold nature of
all three wheat contracts and the mar...

About ADM - Benson Quinn
* The content on this page, including news, quotes, and commentary is not intended to provide information, advice or recommendations for trading purposes or any form of commercial activity. ADM expressly disclaims all warranties and representations, express or implied, as to the accuracy of any the content provided, or as to the fitness of the information for any purpose.
Futures
CORN
Last:
Change:
High:
Low:
325'0
-0'6
326'2
324'4

SOYBEANS
Last:
Change:
High:
Low:
917'0
-6'4
922'4
916'4

WHEAT
Last:
Change:
High:
Low:
476'6
-4'4
481'6
476'2

* Futures composite price shown, delayed at least 10 minutes.
Weather for PEORIA, ILSee C°
Current Conditions
60º

Feels Like 60º
High 87º Low 58º

Radar
Copyright 2014 Archer Daniels Midland Company   Inside(out)   Online Privacy Statement   Terms of Use   Compliance