November 19, 2017
Market Update
November 16, 2017

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

Morning Comments
Thin volume and quiet markets overnight. At 0600 CZ17 up a ¼ cent at $3.338 ½ with SF18 off ¾ of a cent at $9.75 ½. KC wheat up $0.01 ¾.

Dow futures up 72 pts in early trade at 23,335. S&P futures also higher this morning but on track to perhaps have its worst week in three months. Spot crude near steady at $55.24. US $ showing modest gains.

Strong seasonal for soybeans to rally mid Nov to Mid Dec. Look at that a little closer later this morning.

Corn open interest up again yesterday and stands at 1,714,936 contracts. That’s the largest corn OI since 2010.

Fund short (record) in corn has caution flags out.

Export sales later this morning. Trade expecting corn sales between 1,200,000 to 1,700,000 tonnes and soybeans between 1,100,000 to 1,500,000 tonnes.

Lack of country movement has seen a few select processors with significant push for corn packages. Most elevators will have finished settling up open store corn in the next few days. Corn and soybean crops largely tucked away. Delayed harvest has helped take some of the pressure off storage.

Some trade noise about China increasing scrutiny

Market has a whole lot of nothing to trade as we wait for weather problems. Somewhere, anywhere to develop.

October NOPA crush at 164.2 million bushels. Trade estimate was 164.5.

Spot corn continues to trade right on top of last year’s value this date. Soybeans running 10 cents above a year ago this date.

Range bound / money flow trade continues……….For perhaps months to come.
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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