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Bids*
Hard Red Winter Wheat (Composite) (QKW)
Date
Futures
Basis
Opt
Cash
09/01/14 - 09/30/14
5.57
USD/BU
-40.00
USD/BU
Z
5.17
USD/BU
06/15/15 - 07/31/15
5.60
USD/BU
-45.00
USD/BU
N
5.15
USD/BU

Sorghum (C)
Date
Futures
Basis
Opt
Cash
09/01/14 - 09/30/14
3.27
USD/BU
-40.00
USD/BU
Z
2.87
USD/BU
10/01/14 - 11/30/14
3.27
USD/BU
-40.00
USD/BU
Z
2.87
USD/BU

Yellow Corn (Composite) (QBC)
Date
Futures
Basis
Opt
Cash
09/01/14 - 09/30/14
3.27
USD/BU
-10.00
USD/BU
Z
3.17
USD/BU
10/01/14 - 10/31/14
3.27
USD/BU
-10.00
USD/BU
Z
3.17
USD/BU

Yellow Soybeans (Composite) (QBS)
Date
Futures
Basis
Opt
Cash
09/01/14 - 09/30/14
9.345
USD/BU
-80.00
USD/BU
X
8.545
USD/BU
10/01/14 - 11/30/14
9.35
USD/BU
-80.00
USD/BU
X
8.55
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
9/23/2014 8:46:49 AM
First day of fall. Best time of the year to be a farmer. Quiet/lower grain trade. US Dollar is lower. Most commodities are higher. China PMI data was better than expected.
About ADMIS Daily Grain Commentary
Marketing Partners Advisory
M.P.A 9/15/14 Recommendations and Conf Call Recap
9/16/2014 8:50:37 AM
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 15, 2014

Harvest is now taking place in most northern hemisphere production areas. Reports of yields for corn, soybeans, and wheat remain generally supportive of the historically large global and domestic production data announced last week by the USDA. Fall weather has also generally been supportive of new crop production with a few exceptions as a result of the cooler and wetter conditions which have been in place most of the growing season. We continue to hear of some minor harvest delays for spring planted crops and additional reports of quality issues for northern hemisphere wheat. However overall yield reports tend to confirm the expectations of very good yields and in some instances astounding yields.

Additional comments from the weekly conference call of the recommendations group of Marketing Partners Advisory include the following –

1. Some wet weather this week in the US may delay fall harvest activities. This may help extend some of the spot premiums being paid for quick shipment. However we expect these premiums will soon evaporate and the entire system will move to new crop pricing values.
2. The wetter fall weather pattern continues to be supportive of early growing season considerations globally for fall planted crops.
3. Later this week there will be some data released from the FSA in reference to US planted acreage from the spring of 2014. We are not sure how to anticipate the data nor are we comfortable assuming how and if the data will soon be built into the USDA’s 2014/15 crop year balance sheets. We consider the data to be low on the significance scale for grains and oilseed prices as the bigger price picture issue now may be the yield consideration of fall harvested crops.
4. The frost event last week did not meaningfully impact production considerations for the US or Canada.
5. Interestingly we continue to see producer selling interest in corn in some of what are traditionally considered to be SW US Corn Belt growing areas. To this point this selling interest does not appear to be consistent with what we are seeing in most corn production areas. In general the US producers seem intent on not finalizing pricing on new crop fall harvested inventories.
6. At this point we do not sense there are early season weather considerations in South America which threaten the early corn, wheat, or soybean new crop production potential.
7. We continue to see and hear reports of US producer focus on cost of production issues for the upcoming 2015 production cycle. At this point we do not sense there is a widespread movement to cut back on production inputs but rather to perhaps tweak the planted acreage crop mix as a way to reduce the investment risk of 2015 production. This is only the beginning of this story as the fall harvest is of more immediate concern. Perhaps if seed costs and/or agronomic support costs begin to decline it may change the focus of producer actions to address the lower price environment for grains and oilseeds.

Best Regards – The Recommendations Group of Marketing Partners Advisory
About Marketing Partners Advisory
Doug Roose Becca Bunton
ADM - Benson Quinn
BQCI Morning Comments
9/22/2014 8:07:34 AM
...

Corn
9/22/2014 3:39:51 PM
US corn futures used the same inputs as last week to
extend the price drop. The trade continues to leverage talk
of better than expected yields and favorable weather for the
bulk of the Corn Belt. While the technicals remain weak and
the market did attract additional selling with new lows for
the move, the corn market did rally off ...

Oilseeds
9/22/2014 3:45:15 PM
Beans gapped lower with the overnight session and
continued on their path of least resistance into fresh 4-year lows
unabated as there is no sign that soybean yields are anything less
than impressive. Weekend weather was better than expected with
harvest active for corn while beans are pushing to maturity with
leaves turning and dropping...

Hard Red Spring Wheat
9/22/2014 3:09:19 PM
Wheat futures found support overnight as the sale of 1
cargo of US SRW to GASC triggered short covering in Chicago,
while also influencing overnight price action in KC and Mpls.
Wheat markets were quick to find new selling on a new low for
the move once a higher open did not attract buying. Whether it
was additional buying on the ope...

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
09/23/14 02:20 PM GMT
CORN
Last:
Change:
High:
Low:
326'4
-3'6
331'0
326'4

SOYBEANS
Last:
Change:
High:
Low:
934'2
-4'0
944'4
931'0

WHEAT
Last:
Change:
High:
Low:
474'2
-2'4
478'4
473'2

* Futures composite price shown, delayed at least 10 minutes.
Weather for DODGE CITY, KSSee C°
Current Conditions
63º

Feels Like 63º
High 85º Low 58º

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