Documents
75 YELLOW SOYBEANS DiscountSchedule
75 YELLOW CORN DiscountSchedule
SOFT RED WINTER WHEAT DiscountSchedule
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Bids*
Updated 7/22/14 4:09PM
YELLOW CORN (C)
Date
Futures
Basis
Opt
Cash
07/16/14 - 07/31/14
3.60 S
19.00
U
3.79
08/01/14 - 08/15/14
3.60 S
15.00
U
3.75
09/01/14 - 09/15/14
3.60 S
-6.00
U
3.54
09/16/14 - 09/30/14
3.60 S
-14.00
U
3.46
YELLOW SOYBEANS (S)
Date
Futures
Basis
Opt
Cash
07/16/14 - 07/31/14
11.84 S
60.00
Q
12.44
08/01/14 - 08/15/14
11.84 S
40.00
Q
12.24
09/01/14 - 09/15/14
10.58 S
20.00
X
10.78
09/16/14 - 09/30/14
10.58 S
12.00
X
10.70
SOFT RED WINTER WHEAT (W)
Date
Futures
Basis
Opt
Cash
07/01/14 - 07/31/14
5.25 S
-30.00
U
4.95

* 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 Market View & Video
7/22/2014 8:49:12 AM
Grains are higher. US dollar, most commodities are higher. Gold is lower. Thoughts of easing tension in Ukraine may be helping US dollar and US stocks.

Traditional funds sold 4,000 soybeans, 3,000 soymeal, 2,000 soyoil 6,000 corn and 1,000 wheat on Monday. They are estimated to be net short 10,000 soybeans, 2,000 soyoil, long 25,300 soymeal and 87,100 corn and net short 47,000 wheat.
About ADMIS Daily Grain Commentary
Marketing Partners Advisory
M.P.A 7/21/14 Position Updates and Conf Call Recap
7/22/2014 7:43:34 AM
Marketing Partners Advisory
Position Updates
July 21, 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 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 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 50% sold at Chicago Sept 2014 $7.16
Recommendation: sell 20% at Chicago Sept 2014 $6.00
HRW – We are 75% sold at Kansas City Sept 2014 $7.73
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
HRW – We are 30% sold at Kansas City July 2015 $7.65

________________________________________
Marketing Partners Advisory
Conference Call Recap
July 21, 2014

Another weekend of weather developments which appear to further production potential for northern hemisphere crops in many areas seemed to be the focal point for the grains and oilseed markets on Monday. The markets struggled all day and furthered the discussion of a bearish price trend for grains and oilseeds. Questions are being asked as to what the lows will be as corn and wheat prices are already viewed as very cheap very early. While the soybean market may not be as close to the USDA’s projection for crop year lows, it too continues to feel heavy. We continue to hear comments of disbelief from some producers as they are trying to come to grips with current prices and the potential for even lower prices in the future.

Is the lower price environment for grains and oilseeds stimulating demand and/or demand pricing? This is a question we continue to get. We believe the answer is yes on both counts. But this may not suggest the demand increase and the current amount of demand pricing is meaningful enough to counter the expectation of an avalanche of fall harvested northern hemisphere production. There is also a timing issue which should not be overlooked as the spring planted northern hemisphere production/harvest is still generally about a month away, and that is the earliest inventories. There is also the on-going discussion/expectation the new crops are not under stress and production potential may be increasing versus stabilizing.

For many there is now an expectation grains and oilseed markets are headed lower. Producers are hunkering down and planning strategically how to handle the pending harvest while systems of the industry beyond the farm are also gearing up to take on inventories, whether the inventories have been previously sold by the producer or inventories which may come to them in the form of unpriced cash grain contracts/storage. There are times of the year when the logistics of planting and/or the harvest tend to impact the discussion of price and grain marketing in a greater manner than other times. Certainly the anticipation of this year’s fall harvest with projections of record inventory fall into this consideration.

Perhaps of noticeable concern for those trying to project price lows for grains and oilseeds is the issue of the funds currently not being meaningfully short grains and oilseed futures. There is a short in wheat, but perhaps not of meaningful consideration. In corn and soybeans there is evidence to suggest the funds remain long. For anyone who believes there is a proven linkage between fund activity/direction position movement in the futures markets and grains and oilseed prices, this issue is a glaring concern.

There is some talk of the potential negative impact of a first frost event in the US given the late planting dates for spring planted crops in northern growing areas. We are not willing to discount this issue, but the markets may be much better suited to deal with any negative impact should it take place, given historically large new crop inventory base line currently being used in supply and demand discussions. We have all seen the negative impact of a harmful fall frost in the past. Traditionally this development has not been a game changer for the overall discussion of price but rather becomes a quality issue for the systems of the industry to work through.

The two week weather forecast continues to suggest favorable growing conditions for most areas of northern hemisphere production. As a result the market will likely enter the early portion of August will lingering expectations the USDA August reports will amp up new crop production projections. We believe some of this expectation is already built into current prices and price action.

Best Regards – The Recommendations Group of Marketing Partners Advisory

About Marketing Partners Advisory
Doug Roose
ADM - Benson Quinn
BQCI Morning Comments
7/22/2014 8:20:47 AM
...

Corn
7/22/2014 4:04:36 PM
The price pattern in US corn doesn’t change much.
When the market is able to hold the prior day’s lows during
low volume overnight session, the trade is willing to cover a
few shorts. Given the oversold nature of the market, this is
prudent, but typically results in the short position giving up
opportunity. The key is the fact that...

Oilseeds
7/22/2014 3:44:20 PM
It was a two-sided trading session with “turn-around
Tuesday” short covering developing during the overnight
session but failing to find follow through as the day session
progressed and market was seen closing into fresh lows for the
move. August contract remains an exception settling higher
with 6 trading days till first notice and firm...

Hard Red Spring Wheat
7/22/2014 4:04:45 PM
US wheat futures leveraged oversold conditions and yesterday’s
late recovery in the Chicago market to post a modest, low volume
recovery during the overnight session. Markets reverted back to their
customary lower trade as a day session open in line with overnight
price levels did not attract any additional short covering. Modest
ov...

About ADM - Benson Quinn
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Futures
CORN
Last:
Change:
High:
Low:
360'2
-3'6
367'0
359'6

SOYBEANS
Last:
Change:
High:
Low:
1184'0
8'2
1196'4
1172'6

WHEAT
Last:
Change:
High:
Low:
524'4
-5'4
536'6
524'0

* Futures composite price shown, delayed at least 10 minutes.
Weather for PEORIA, ILSee C°
Current Conditions
87º

Feels Like 94º
High 89º Low 69º

Radar
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