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Quotes retrieved on May 24, 2018, 04:35:39 AM CDT



SLC Commentary

STATELINE COOPERATIVE’S EVENING COMMENTS 05/23/2018

Corn: North Burt up 4 @ $3.65

  • The corn market traded higher on strength in wheat, with gains limited from a stronger US$. Hopes for new purchases from China and hot temperatures provided underlying support to the corn market.
  • Closes; July at $4.08 ½, up 3 ¾ cents, September at $4.17 ¼, up 3 ¾ cents and December at $4.26 ½, up 3 ¼ cents.
  • Gulf premiums were steady to 1 weaker, ECB processor bids were mostly unchanged and PNW bids were unchanged for May and 3 cents firmer for June.
  • The USDA announced the sale of 140,000 tonnes of corn to Saudi Arabia (70k for 2017-18 and 70k for 18-19 marketing year).
  • Weekly ethanol production decreased 30k barrels per day to 1.028 million barrels per day.

 

Soybeans: up 9 @ $9.59

  • The soybean market traded higher on hopes for renewed Chinese business and spillover strength in the meal market. Soymeal closed $3 higher and soyoil was 19 points higher.
  • Closes; July at $10.39 ¼, up 8 ¾ cents and a penny above its 50-Day MA, August at $10.43 ¼, up 9 cents and November at $10.48 ¾, up 9 ¾ cents.
  • Gulf premiums were 1-2 cents firmer, ECB processor bids were steady, PNW bids were unchanged and Brazil bids were 10 cents weaker.


Forecast
Burt, Iowa (50522)
Current Conditions Clear
Temperature 70°F
Dew Point 64°F
Pressure 30.06 in. Hg
Humidity 83%
Wind 11 mph
From South


Forecast