Bids*
Updated 8/20/14 2:59PM
YELLOW CORN (C)
Date
Futures
Basis
Opt
Cash
08/01/14 - 08/31/14
3.6225 S
-30.00
U
3.3225
10/01/14 - 11/30/14
3.69 S
-55.00
Z
3.14

YELLOW SOYBEANS (S)
Date
Futures
Basis
Opt
Cash
08/01/14 - 08/31/14
10.3825 S
230.00
X
12.6825
10/01/14 - 10/31/14
10.3825 S
-70.00
X
9.6825

SOFT RED WINTER WHEAT (W)
Date
Futures
Basis
Opt
Cash
08/01/14 - 08/31/14
5.4625 S
-30.00
U
5.1625
07/01/15 - 07/31/15
6.15 S
-60.00
L
5.55

* 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
Grains are higher.-$ index extends 11-mnth high then slips lower; euro steady near 11-mnth low; crude 2-sided; gold drops $19; livestock mixed; softs mostly higher; S&P futures hit contract high overnight.


About ADMIS Daily Grain Commentary
Marketing Partners Advisory
M.P.A 8/11/14 Position Update and Conf Call Recap
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 60% sold at Chicago Sept 2014 $6.88
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
HRW – We are 30% sold at Kansas City July 2015 $7.65

________________________________________
Marketing Partners Advisory
Conference Call Recap
August 11, 2014

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

1. The USDA report on Tuesday this week – We believe most industry participants are approaching this report with the expectation the USDA will increase domestic and global corn and soybean production as a result of generally favorable growing conditions for much of the northern hemisphere. More real time data will be used in the August reports rather than in prior months.
2. The longer term frost forecast seems to suggest most of the US corn should have time to reach full maturity prior to the anticipated first frost event. The two week weather forecast continues to suggest favorable temperatures and scattered rain events for much of the US corn and soybean growing regions. Many areas of the US in the central and eastern corn growing areas are reporting near ideal growing conditions have been in place since the very early stages of the production cycle. Since early on in the production cycle the northern growing areas in portions of Minnesota and the Dakotas have reported some stress. However other parts of these areas are continuing to suggest the new crop looks very robust.
3. We continue to see evidence there will be fierce competition in the new crop year between DDGs, corn, wheat, and meal as all expected to work through price to find demand in the feed sector. Lagging imports by China of corn, DDGs, and most recently sorghum may be compounding what was anticipated to be a new crop year with ample feed alternative supplies.
4. While there is some evidence of old crop corn selling, we generally believe much of this is linked to logistical preparation for the new crop harvest more so than the producer’s favorable opinion of current price. Going forward we continue to anticipate the producer attitude about selling new crop inventories at current prices is one which does not project sales of inventory in excess of logistical needs and/or cash flow needs for much of the remaining calendar year.
5. New crop demand globally and domestically is projected to remain historically strong. Given the current lower price environment and the reluctance by the producer to aggressively price new crop inventories, we anticipate much of the task to stem demand for the new crop year will initially fall on basis markets and cash grain spreads. To that end we fully anticipate a historically large amount of new crop inventory will be placed on some form of delayed pricing contracts by the producer for those inventories unable to be stored on farm.
6. Even with much of the focus of the industry being on the traditional supply and demand data in the short term, we encourage producers to remain aware of things taking place in Argentina (default), Ukraine, the Middle East, and the continuing lagging economic environment globally and domestically.


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

Corn
US corn futures responded to yesterday’s late session
recovery with a lower, uneventful, flat price trade. The tone
was set when overnight trade couldn’t muster a challenge of
yesterday’s highs. With the exception of additional rain in IA
and what appears to be beneficial overnight rain in OH, the
negative fundamental features in t...

Oilseeds
Beans closed lower and into fresh contract lows
with shorts just seeing no reason to cover despite sizeable
positions and deeply oversold technicals. Rains today for the
Pro Farmer crop scouts in IA and IL and forecast for above
normal rainfall for majority of the Corn Belt into the end of
the month certainly offered little reason for sh...

Hard Red Spring Wheat
US wheat futures caught a little buying overnight and found a
solid offer during the day session. The lack of fresh supportive inputs
and a better understanding of reasons behind the call by Ukrainian
millers to halt exports of milling allowed for weaker trade to develop.
Meanwhile, the technical structures of all three wheat markets h...

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:
362'2
2'6
366'0
358'0

SOYBEANS
Last:
Change:
High:
Low:
1136'2
16'4
1140'0
1119'6

WHEAT
Last:
Change:
High:
Low:
546'2
6'6
549'6
536'6

* Futures composite price shown, delayed at least 10 minutes.
Weather for BAD AXE, MISee C°
Current Conditions
77º

Feels Like 77º
High 77º Low 62º

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