FC Morning Market Commentary for June 18, 2013

Good morning!

The markets were mixed to a little higher last night on follow through from yesterday along with some friendly outside markets – giving the market a somewhat positive tone.  The news wires are pretty quiet which means we could see a choppy trade throughout the day session.

The weather forecasts remain non-threatening for crops which is helping keep a lid on new crop prices.  The strength in the market is coming from the nearby (old crop) futures. Domestic crushers have margin, whether it’s in poultry, dairy, ethanol or soybeans – they seem to be making a little money.  This is holding up the value of old crop corn and soybeans.

Based off of the planting progress estimate from the USDA there were around 2.0-2.2 million acres of corn left to be planted and 7 million acres of beans as of Sunday’s survey.  With the weather forecasts looking favorable for planting – the soybean number should shrink fast while the corn number will likely go down just a little bit, with a large percentage of those acres switching to soybeans or getting put into preventative planting. 

Opening Calls

Corn mixed

Soybeans 2 to 5 cents higher

Have a great day!

FC Afternoon Grain Market Commentary for 6/17/2013

Afternoon Comments 6/17/2013

Monday, June 17, 2013, 3:45 pm
Submitted by: Kyle Lehman

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Markets were mixed today with corn trading higher while soybeans spent most of the day lower to finally close a penny higher (new crop down 13 cents). Corn planting progress will no longer be published so the market will shift focus to crop condition ratings. 64% of the corn crop is said to be in the Good/Excellent category vs 63% last week and 63% on average. The Iowa corn crop fell 2% to 50% G/E this week. The eastern corn belt has been the bright light this spring in terms of planting progress and now crop conditions (Ohio is 81% g/e, Pennsylvania 83%, and Indiana 73%).

 

Soybeans are said to be 85% planted this week vs. 71% last week and behind the 5 year average of 91%. Iowa soybeans are 77% planted vs. 60% last week. Only Michigan is 100% planted followed closely by Nebraska at 99%. Extended forecasts look dry until late this week when wet weather is expected to be scattered throughout the Midwest.

 

http://www.fccoop.com/markets/commentary_detail.cfm?CommentaryID=1748

FC Morning Grain Market Commentary for 6/17/2013

AM Comments 06/17/13

Monday, June 17, 2013, 7:20 am
Submitted by: Dustin Weiner

Good morning!

 

Our markets were weaker last night on what appears to be ‘non-threatening’ weather.  Long story short there were dry areas that got a nice shot of rain over the weekend while some of the wetter areas (NW part of the corn belt) look to stray dry for the rest of the week.  Safe to say that from this coming weekend forward rains will turn into a bearish input….

 

This afternoon the USDA will release soybeans planting progress (expected to be in the upper 80%s) along with corn, wheat and soybean crop conditions.  This is the first look this year into soybean conditions, while corn conditions are expected to improve a % or two in the good-to-excellent categories.

 

The outside markets are mixed this morning, the $US is a touch higher, crude oil is also slightly higher while gold is weaker and the DOW is called higher.

 

Currently

Corn is 1 to 5 cents lower

Soybeans are 7 to 12 cents lower

http://www.fccoop.com/markets/commentary_detail.cfm?CommentaryID=1747

 

 

 

FC Morning Grain Market Commentary for 6/14/2013

AM Comments 06/14/13

Friday, June 14, 2013, 8:12 am
Submitted by: Dustin Weiner

Good morning!

 

The front end of both the corn market and the soybean market was stronger last night – helped out by a continued lack of cash movement.   This lack of farmer selling keeps basis firm which in turn keeps spreads firm. 

 

Weather… looks pretty much the same as yesterday.  Rain this weekend and rain next weekend – potentially dry in the middle.  Hopefully the ‘break’ next week is long enough and dry enough to get the rest of the bean crop in the ground.  For Monday afternoon’s planting progress report soybeans are expected to come in at around 85% planted.  We are starting to turn the page on the weather story from ‘planting conditions’ to ‘crop conditions’.

 

Opening Calls

Corn steady to 5c higher

Soybeans 4 to 7 cents higher

http://www.fccoop.com/markets/commentary_detail.cfm?CommentaryID=1746

 

FC Friday Safety Tip

June 14, 2013

This weeks FC Friday Safety Tips is regarding Tractors and Implements Safety Tips. Please follow all safety procedures and recommendations from the manufacturer of all of your equipment. 

Below is a list of safety tips we recommend everyone follow.

• Keep tractor roll-over protection structures in place. If you have a tractor without one, get it installed today … and while you’re at it, buckle your seat belt.
• Prohibit riders on tractor fenders, hitches, attachments or implements.

  

  Keeping a fire extinguisher on your equipment can prevent
  major equipment damage and minimize personal injury

• Shield all PTO-powered equipment drive shafts, and keep kids at a distance from them.
• Never start or run gas or diesel engines in an enclosed area without being assured of good ventilation.
• Outfit tractors and farm trucks with fire extinguishers and first aid kits.
• Never exit a tractor or truck without placing it in park or engaging the emergency brakes.
• Never leave running power equipment unattended.
• Check and maintain equipment, especially hydraulic hoses and electrical cables showing cracks or other signs of wear. 

Again, please refer to your manufacturers' guidelines and recommendations when it comes to safety.

Stay safe! Together we can!

FC Morning Grain Market Commentary for 6/13/2013

AM Comments 06/13/13

Thursday, June 13, 2013, 8:40 am
Submitted by: Dustin Weiner

Good morning!

 

The markets were mixed to weaker overnight with our soybean complex slipping right in line with Chinese soybean futures which were lower last night on economic concerns in China.

 

The weekly export sales report was out this morning, new crop bean sales were solid – falling right in the range of guesses while corn sales were poor, both old and new.  Nothing for the bulls to chew on here.

 

Weather… the models are still calling for an “active” pattern over the next two weeks with thunderstorms moving in to the Western belt tomorrow night and leaving the Eastern Belt Sunday.  There are chances again early next week and then again next weekend for rains.  6-10 and 11-15 day temps are supposed to be normal to above normal.

 

Currently

Corn is steady to down 2 cents

Soybeans are down 3 to 7 cents

 

http://www.fccoop.com/markets/commentary_detail.cfm?CommentaryID=1744

FC Morning Grain Market Commentary for 6/12/2013

AM Comments 06/12/13

Wednesday, June 12, 2013, 8:04 am
Submitted by: Dustin Weiner

Good morning!

 

It was choppy last night which wasn’t surprising knowing that the USDA will be giving us new S&D numbers at 11am this morning.  Traders are expecting slight decreases in carryout for old crop corn and beans.  For new crop they are expecting a reduced carryout projection in corn with a little wider carryout projection for soybeans.  Anything much different than that and the market will react accordingly.

 

A few facts on this June report – in the last 20 years the USDA has lowered corn plantings only 4 times.  Corn yields have also been reduced only four times while soybean yields have been lowered only twice.  This is likely due to the fact that at the end of June the USDA releases their actual planted acreage number, so they try to wait until then before making major changes. 

 

Weather… Rains coming across the WCB today as forecasted with a chance for severe storms with strong winds coming this weekend.  The trade is now focusing on next week’s forecast which is starting to look a little less active for IA, IL and NE.  Still some chances for rains but it looks like they could be limited in coverage – hopefully allowing for bean plantings to wrap up in many areas.

 

Opening calls

Corn 2 to 3 cents lower

Soybeans mixed, old crop up a nickel, new crop down 2 to 3 cents

 

http://www.fccoop.com/markets/commentary_detail.cfm?CommentaryID=1742