Hours
Week of Feb 22:
SAUGET OPEN 24 HOURS Sunday 10pm through Friday 6pm
ST. LOUIS OPEN Mon-Fri 5am-9pm
**Just Added** Saturday hours at STL only 6am-6pm
Abengoa is CLOSED Thur, Fri & Mon
ADM Milling is CLOSED Thur & Fri

Week of Mar 2:
Both locations Mon-Fri 5am-9pm
Documents
Yellow Soybeans DiscountSchedule
SOFT RED WINTER WHEAT DiscountSchedule
Yellow Corn DiscountSchedule
Sorghum DiscountSchedule
Announcements
Free Bean DP if delivered in Feb.  Price by 8/31/15.
Producer Comments
The New Farm Bill: Agriculture Risk Coverage(ARC) and
Price Loss Coverage(PLC) Program Key Dates:

Now till February 27, 2015- Land Owners (or their POA) can update farm yield
history and/or reallocate base acres

Now till March 31, 2015- Producers(who share in the cropland on the farm) make a
one-time election of either PLC, ARC-County, or ARC-Individual for 2014-2018 crop years.

Mid-April 2015 thru Summer 2015- Producers need to sign contracts for 2014 and 2015
crop years.

October 2015- Payments made for 2014 crop year, if earned

Important Crop Insurance Dates:
February 1-28, 2015- Price discovery period (Daily CBOT Close) for crop insurance spring price CZ5 SX5
March 15, 2015- Crop Insurance sales closing date
Bids*
Updated 2/25/15 4:22PM
Soft Red Winter Wheat (Composite) (QBW)
Date
Futures
Basis
Opt
Cash
02/01/15 - 02/28/15
5.085
USD/BU
20.00
USD/BU
H
5.285
USD/BU
03/01/15 - 03/31/15
5.085
USD/BU
20.00
USD/BU
H
5.285
USD/BU
06/01/15 - 07/31/15
5.085
USD/BU
-5.50
USD/BU
N
5.03
USD/BU

Sorghum (C)
Date
Futures
Basis
Opt
Cash
02/01/15 - 02/28/15
3.80
USD/BU S
85.00
USD/BU
H
4.65
USD/BU
03/01/15 - 03/31/15
3.80
USD/BU S
85.00
USD/BU
H
4.65
USD/BU
10/01/15 - 11/30/15
4.14
USD/BU S
-15.00
USD/BU
Z
3.99
USD/BU

Yellow Corn (Composite) (QBC)
Date
Futures
Basis
Opt
Cash
02/01/15 - 02/28/15
3.81
USD/BU
20.00
USD/BU
H
4.01
USD/BU
03/01/15 - 03/31/15
3.81
USD/BU
21.00
USD/BU
H
4.02
USD/BU
04/01/15 - 04/30/15
3.895
USD/BU
17.00
USD/BU
K
4.065
USD/BU
05/01/15 - 05/31/15
3.895
USD/BU
19.00
USD/BU
K
4.085
USD/BU
Yellow Soybeans (Composite) (QBS)
Date
Futures
Basis
Opt
Cash
02/01/15 - 02/28/15
10.295
USD/BU
42.00
USD/BU
H
10.715
USD/BU
03/01/15 - 03/31/15
10.295
USD/BU
31.00
USD/BU
H
10.605
USD/BU
04/01/15 - 04/30/15
10.31
USD/BU
24.00
USD/BU
K
10.55
USD/BU
05/01/15 - 05/31/15
10.31
USD/BU
25.00
USD/BU
K
10.56
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
2/26/2015 9:55:18 AM
Grains mixed. $ index stages big rally after this morning’s data; US Treasuries unch/lower; crude off $1.30 near $49.70; gold up $10; copper at 6-wk high; softs lower; cattle higher; US stocks starting easier; spread between Brent & WTI crude widens to 1-yr high


About ADMIS Daily Grain Commentary
Marketing Partners Advisory
M.P.A. 2/17/15 Position Update and Conference Call
2/19/2015 6:42:23 PM
Marketing Partners Advisory
Position Updated and Recommendations
February 17, 2015

CORN:
2014-crop – We are 70% sold at Chicago March 2015 $4.60
Recommendation: sell 10% at Chicago March 2015 $4.22
2015-crop – We are 25% sold at Chicago December 2015 at $4.34
Recommendation: sell 10% at Chicago December 2015 $4.50

SOYBEANS:
2014-crop – We are 85% sold at Chicago March 2015 $11.66
Recommendation: Sell 5% at March 2015 at $10.30 *New*
Recommendation: Sell 10% at March 2015 at $11.00

2015-crop – We are 30% sold at Chicago November 2015 $10.27
Recommendation: Sell 5% at November 2015 at $11.00

WHEAT:
2014-crop
SRW – We are 70% sold at Chicago March 2015 $6.79
Recommendation: sell 10% at Chicago March 2015 $5.90
Recommendation: sell 10% at Chicago March 2015 $6.80
HRW – We are 100% sold at Kansas City March 2015 $7.45
HRS - We are 90% sold at Minneapolis March 2015 at $7.16
Recommendation: sell 10% at Minneapolis March 2015 $6.30

2015-crop
SRW – We are 50% sold at Chicago July 2015 $6.99
Recommendation: sell 10% at Chicago July 2015 $6.80
HRW – We are 40% sold at Kansas City July 2015 $7.49
HRS – We are 0% sold at Minneapolis December 2015
Recommendation: sell 10% at Minneapolis December 2015 $7.00

________________________________________
Marketing Partners Advisory
Conference Call Recap
February 17, 2015

The following is a review of comments and discussion items from the weekly conference call of the recommendations group of Marketing Partners Advisory –


1. We continue to see a lack of producer selling interest at current prices at this time as a general consideration. This development is not limited to the US as reports suggest producer sales of new crop inventories in SA (in the somewhat early stages of what may be another record soybean harvest) also remain sluggish.
2. US demand for both export and domestic usage soybean inventories remains strong as evidenced by both export shipment data and monthly crush rates. We do have some concerns the current strong pace of usage/demand will taper in a noticeable manner in late March early April as SA new crop soybean exports increase.
3. As the markets approach the spring of 2015 for the northern hemisphere the grains and oilseed markets are once again getting more focused on spring and longer term weather forecasts. To this point there are a number of longer term forecasts which suggest portions of the US and Canada may be in the queue for a drier bias later in the growing cycle. Having stated this we will also remind clients the best weather people in this industry will suggest longer term weather forecasts are dicey at best. Perhaps of more concern in the short term is the issue of portions of China remaining dry since last summer. The areas of current dryness include corn, soybean, and wheat production in the North China Plain and NE China. We should also note there are some rain events potentially evolving in the next 10 days for some of the drier areas, however the amounts do not appear to be significant enough to reverse the concern of lingering moisture shortage.
4. Later this week the USDA will hold the annual outlook conference. The forecasts presented in this conference will likely garner much attention as they will be the first USDA baseline considerations for new crop 2015 supply and demand.


Additional discussion items –

We continue to see rain events in areas of Brazil which are slowing the harvest activity. We believe this is helping to support the soybean futures market in the short term.

The funds remain short the wheat futures market (collective consideration) and soybean futures. While the funds remain long corn futures the position does not appear to be problematically long. The current fund positions in corn, wheat, and soybeans are viewed as being a bit supportive to the futures markets in the short term as the northern hemisphere is on the cusp of the season of higher market volatility and velocity.

We do not interpret the current new crop corn, wheat, and soybean futures prices as being reflective of markets which represent a risk premium linked to new crop production uncertainty.

As we travel about and participate in various producer meetings in the past six weeks we continue to hear of producer concern relative to sign up in the US farm program. The choices which are being offered do not seem to be greeted with enthusiasm, but rather seem to be boiling down to choosing the lesser of two questionable alternatives. The real problem may be the current farm bill was designed to be in place in a much different overall price environment for grains and oilseeds versus what currently exists.

Technically the futures markets in corn, wheat, and soybeans do not appear to be poised for a meaningful price move lower in the short term. The markets are not over bought and all remain above some of the most widely used shorter term price moving averages. This is not suggesting the longer term supply and demand issues which suggest ample global supplies moving forward are changing, but rather to suggest short term the markets may be lacking bearish price momentum. This is not unusual in any market as the road to currently anticipated longer term fundamental supply and demand price considerations is rarely straight.


Best Regards – The Recommendations Group of Marketing Partners Advisory

About Marketing Partners Advisory
Doug Roose Becca Bunton
ADM - Benson Quinn
BQCI Morning Comments
2/26/2015 8:17:33 AM
...

Corn
2/26/2015 4:57:49 PM
The overnight session started out with a firmer tone and
drifter higher into the morning break. Volume continues to be
impressive with spreading being the main feature. The South
American trucker strike remains the main talking point. The
majority are in agreement that the worst is behind us, but there
continues to be opinions rega...

Oilseeds
2/26/2015 4:57:59 PM
The Brazilian trucker strike appears to be far from
resolved with non-union trucks still blocking roads in many
states which is halting or at least interfering with the
movement of food and fuel. This strike, which is seen
hampering harvest and trucking into ports, coupled with solid
weekly export sales and bullish technical consideratio...

Hard Red Spring Wheat
2/26/2015 4:57:54 PM
The wheat markets posted mixed trade as early
weakness gave way to a solid recovery from mid-session
on. The weakness of the overnight session was
compounded by another week of routine export sales,
weak technicals and the sharp rise in the US dollar.
Despite firm trade in the row crop markets new lows in
KC and Mpls triggered addi...

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:
380'6
0'6
381'0
378'2

SOYBEANS
Last:
Change:
High:
Low:
1029'4
5'4
1034'0
1021'2

WHEAT
Last:
Change:
High:
Low:
508'2
5'0
509'0
502'0

* Futures composite price shown, delayed at least 10 minutes.
Radar Summary for ST LOUIS, MOSee C°
Current Conditions


Feels Like -5º
High 22º Low 4º

Radar
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