Comments
Office # 314-241-9113
Abengoa Corn Premiums available (Hopper Trailers only). Call us for details on delivery.

Hours
Both Locations:
Fri           5am-9pm
Sat          6am-4pm ST. LOUIS ONLY
Sun        Closed
Mon      5am-9pm
Tue        5am-9pm
Wed      6am-2pm
Closed Thanksgiving
Next Fri  6am-2pm                                           
Documents
Yellow Soybeans DiscountSchedule
SOFT RED WINTER WHEAT DiscountSchedule
Yellow Corn DiscountSchedule
Sorghum DiscountSchedule
Bids*
Updated 11/21/14 3:07PM
Soft Red Winter Wheat (Composite) (QBW)
Date
Futures
Basis
Opt
Cash
11/16/14 - 11/30/14
5.475
USD/BU S
0.50
USD/BU
Z
5.48
USD/BU
12/01/14 - 12/31/14
5.475
USD/BU S
-9.50
USD/BU
Z
5.38
USD/BU
01/01/15 - 01/31/15
5.535
USD/BU S
-10.50
USD/BU
H
5.43
USD/BU
06/01/15 - 07/31/15
5.66
USD/BU S
-20.00
USD/BU
N
5.46
USD/BU

Sorghum (C)
Date
Futures
Basis
Opt
Cash
11/01/14 - 11/30/14
3.73
USD/BU S
45.00
USD/BU
Z
4.18
USD/BU
12/01/14 - 12/31/14
3.73
USD/BU S
55.00
USD/BU
Z
4.28
USD/BU
01/01/15 - 01/31/15
3.855
USD/BU S
40.50
USD/BU
H
4.26
USD/BU

Yellow Corn (Composite) (QBC)
Date
Futures
Basis
Opt
Cash
11/01/14 - 11/30/14
3.73
USD/BU S
18.00
USD/BU
Z
3.91
USD/BU
12/01/14 - 12/31/14
3.73
USD/BU S
18.00
USD/BU
Z
3.91
USD/BU
01/01/15 - 01/31/15
3.855
USD/BU S
11.50
USD/BU
H
3.97
USD/BU
02/01/15 - 02/28/15
3.855
USD/BU S
15.50
USD/BU
H
4.01
USD/BU
Yellow Soybeans (Composite) (QBS)
Date
Futures
Basis
Opt
Cash
11/01/14 - 11/30/14
10.39
USD/BU S
40.00
USD/BU
F
10.79
USD/BU
12/01/14 - 12/31/14
10.39
USD/BU S
40.00
USD/BU
F
10.79
USD/BU
01/01/15 - 01/31/15
10.39
USD/BU S
38.00
USD/BU
F
10.77
USD/BU
02/01/15 - 02/28/15
10.46
USD/BU S
30.00
USD/BU
H
10.76
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
11/21/2014 8:53:59 AM
Mixed grain trade, with bean complex firmer, corn/wheat lower; $ index/world stock indexes sharply higher; crude/metals also strong; euro sharply lower & testing recent lows; softs lower; livestock narrowly mixed.
About ADMIS Daily Grain Commentary
Marketing Partners Advisory
M.P.A 11/17/14 Position Update and Recommendations
11/18/2014 8:01:00 AM
Marketing Partners Advisory
Position Update and Recommendations
November 17, 2014

CORN:
2014-crop – We are 60% sold at Chicago December 2014 $4.70
Recommendation: sell 10% at Chicago December 2014 $4.00
2015-crop – We are 15% sold at Chicago December 2015 at $4.34
Recommendation: sell 10% at Chicago December 2015 $4.35

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

2015-crop – We are 30% sold at Chicago November 2015 $10.27


WHEAT:
2014-crop
SRW – We are 60% sold at Chicago December 2014 $6.88
HRW – We are 85% sold at Kansas City December 2014 $7.59
Recommendation: sell 10% at Kansas City December 2014 $6.50
HRS - We are 50% sold at Minneapolis December 2014 at $7.82
Recommendation: sell 10% at Minneapolis December 2014 $6.00
Recommendation: sell 10% at Minneapolis December 2014 $6.22

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
November 17, 2014

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

1. Weather – Weather developments in Brazil, Paraguay, and Argentina generally remain favorable for new crop planting and development. Conditions in the FSU will be closely monitored over the winter months as dryness was experienced prior to the crop going into dormancy. In the US and Europe winter wheat conditions appear to be favorable as planting and crop development have lacked any meaningful stress. Cold and snow in the US is getting much attention this week, in part because it is the first real winter event of the season, and because there is a bit of pain memory from the brutal cold and snow of the past winter.
2. Freight values in the US for grains and oilseed movements continue to be under pressure. Values have declined in a meaningful manner for a number of reasons. The decline in freight values has been supportive to the interior basis markets but perhaps not in direct parallel as delivered export location values have also declined.
3. Strong first quarter soybean demand continues to be a front page story in the US as both the processor and export markets have aggressively been pursuing soybean inventories. There has been much progress made to stem the needed inventories since the harvest began but to this point we do not sense the soybean market has fully addressed the demand issues.
4. US corn and wheat export business has been as anticipated as both remain sluggish now deep into the fall of the crop year. Competing exporter inventories remain readily available and very competitively priced. Also of note is most importing countries experienced good to better than good corn production during the past growing cycle. We do not anticipate this issue (sluggish US exports) will go away in the coming months.
5. We continue to see evidence producer selling of wheat, corn, and soybeans has increased in the past week in response to the past 6 week’s price rally.
6. There are signs the corn and wheat futures markets have run into some price resistance in the past week as the markets experienced some reversal price action late in the week and have broken down through some of the shorter term price support levels. Through Monday the soybean futures market has not experienced the same fate even though the latter portion of last week’s price action prompted some questions.
7. There is a strong contingent of industry participants who keep beating the drums about the problematic for price longer term view of the corn, wheat, and soybean markets’ fundamentals. It is a valid point. However the price path to address any longer term considerations is rarely a straight line. The past six week’s price action in the grains and oilseed markets is an affirmation of this as the same longer term price problematic “fundamentals” existed the first of October when the most recent price rally began. There are ridges to cross whether one is going up or down a mountain. While the top or base of a mountain may be clear from a distance, the trip up or down is seldom a smooth traverse. For this reason alone, there is value in watching some of the shorter term price indicators in the grains and oilseed markets like – fund futures positions, overbought/oversold technical price analysis indicators, timing of supplies and demand, commercial futures market positions, and transportation considerations. All of these indicators had an influence in the past six weeks’ price rally even though the longer term fundamentals may have suggested longer term price stress in late September and early October 2014
8. We are a group of people engaged in the discussion of grains and oilseed prices from which we offer futures market based pricing recommendations for producers’ consideration. The group dynamic is always interesting, not just for this group, but in any group discussion. We vote on all recommendations prior to issuing them throughout the ADM network. A majority vote is required on the quantity and price for all recommendations. There are times when we differ on quantity and price details. Should it be a 5% or more recommendation? Should the price attached to the recommendation be $6 or $6.25? Should we be patient offering a recommendation or is there a need to move quickly? Will producers try to read too much into our recommendations (mind reading) if we place selling recommendations or leave prior recommendations in place that have prices above current values? While the details of the recommendations may garner different opinions, in most instances we are in agreement on longer term price and strategy perspective. We have been in general agreement the appropriate pricing strategy for old crop inventories is that of having pricing recommendations in place to take advantage of price rallies. This general bias has been in place for an extended period of time. This was for the old crop inventories of 2013 and now 2014. Our perspective of the longer term supply and demand fundamentals has supported this bias. Along the trail we fully expected there would be and will be some price rallies, but the longer term perspective and strategy bias has been consistent. We remain in the same camp. If there is a more diverse bias now it is linked to the new crop 2015 considerations/pricing recommendations. But the 2014 bias remains that of having pricing recommendations in place to take advantage of price rallies which may be induced by shorter term issues which prompt the markets to take a less direct path versus what the longer term fundamentals may suggest.


Best Regards – The Recommendations Group of Marketing Partners Advisory
About Marketing Partners Advisory
Doug Roose Becca Bunton
ADM - Benson Quinn
BQCI Morning Comments
11/21/2014 8:04:36 AM
...

Corn
11/21/2014 3:46:44 PM
Corn futures followed mixed overnight trade and a
sharp move higher early in the session with a wreck in the
close. Support early in the session from a sharply higher
soybean market and firm trade in the wheat market was
complemented by trade above the 20 and 10 day moving
averages. There are reasons to believe that Central Bank
...

Oilseeds
11/21/2014 2:49:38 PM
It was an emotionally charged session today with
China’s surprise cut in interest rates rallying beans early while
announcement from the EPA mid-morning that they were
delaying decision on the 2014 renewable fuel mandate to next
year rolled the market over and falling into the red. The lower
trade attracted more buying with yesterday’s f...

Hard Red Spring Wheat
11/21/2014 3:46:50 PM
US wheat futures traded lower overnight in a modest
correction of yesterday’s move before piggybacking on a sharp
move higher in the row crop market early in the day session.
Trade above yesterday’s higher and slightly firmer technical
structure triggered institutional buying early in the session.
Funds typically get more involved as...

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:
372'6
-0'4
381'4
369'6

SOYBEANS
Last:
Change:
High:
Low:
1039'0
18'4
1040'0
1013'4

WHEAT
Last:
Change:
High:
Low:
547'2
0'0
553'6
540'6

* Futures composite price shown, delayed at least 10 minutes.
Radar Summary for ST LOUIS, MOSee C°
Current Conditions
56º

Feels Like 56º
High 57º Low 53º

Radar
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