July 28, 2017
Market Update
July 27, 2017

Farmers Coop Society has made changes to their Grain Policy.  To see the new 2017-2018 Grain Policy click here.

Free Delay Price on Corn
ONLY starting January 1, 2017 at all FCS Locations.  Contact Calvin Diehl at 712.722.2671 for more information.

Morning Comments

Overnight trade building on strong close yesterday. At 0600 CZ17 up $0.02 ¾ at $3.88 ¾. SX17 up $0.06 ¼ at $10.06 ½. Volume on the lite side of recent overnight sessions with 17 and 17K on the above contracts. KC and Chi wheat both $0.04 ½ higher.

Another record high on Dow futures yesterday and again this morning. Up 28 pts at 21,674 this morning. Crude at $48.82 up 8 pts. US $ in negative territory.

Nearly a rain free forecast now through next week? Temps in the upper 80’s fro central Iowa. Yield debate really gets ramped up next week. Hear a lot of trade noise of corn yields between 160 – 165 bpa? Get those folks a paper bag to breathe into!

FCStone yield survey next week. If you are a contributor please be thinking about your number. Your participation and input makes this a solid estimate over the years.

Last year August FCStone survey was 5 bpa above the average trade guess and a tenth of a bu from being spot on the USDA. FCStone bean estimate was also a tenth of a bu off the USDA mark.

Year ago NASS plugged an average ear wt of .36 into the yield calculation mix in part explaining a sharp 7.1 bpa increase in corn yield from the July to August report. This year something like .33 more likely?

Next 6 weeks make or break soybean yields? Just a couple bushels off current USDA estimate of 48 bpa is a game changer. Especially for 18/19.

CZCH at 11 ¾ or 65% of full carry.

Weekly export sales report at 0730. Less than 500K tonnes of corn sales expected. Soybean expectations a wide 300 – 1,000K mt range.
FREE Delay Price
Free Delay Price on Corn ONLY starting January 1 at all FCS Locations.  Contact Calvin Diehl at 712.722.2671 for more information.

2017-2018 Grain Policy
Check out our new competitive drying rates on corn and moisture discounts on beans.  Click here to see our 2016-2017 Grain Policy. 

New Off-Farm Grain Trucking Program
Farmers Coop Society is now offering an Off-Farm Grain Trucking program to have your grain delivered to one of their FCS locations. Please contact MattMcCord at 712-344-0867 for the rates and to schedule your farm picked up grain.

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