STATELINE COOPERATIVE EVENING COMMENTS 9-21-18
Corn: North Burt up 5 @ $3.05
- The corn market traded higher, bouncing back from recent contract lows from end-user buying and fund short covering.
- The US maintains its place in the world market with today’s announcement of a 122k tonnes sale to unknown destinations for 2018-19.
- Closes: December at $3.57 ¼, up 4 ¾ cents, July at $3.83 ¼, up 4 ¼ cents and red Dec at $3.93 ¾, up 3 ½ cents.
- Weather forecast suggest a drier pattern developing over the weekend and into next week, with temperatures a bit cooler.
- The USDA Cattle on Feed report for August showed on feed Sep 1 at 106% (105.4%), August placements at 107% (104.4%) and August marketings at 100% (100.4%).
Soybeans: down 3 @ $ 7.47
- The soybean market traded lower on profit taking as the focus switches back to what looks to be a huge US soybean harvest and the ongoing spat between the US and China.
- Closes: November at $8.47 ¼, down 3 cents, July at $8.97 ¾, down 2 cents and red Nov at $9.12 ½, up ¾ cent. Products were mixed with meal down 5-6 bucks and oil up 49 points.
- Brazil’s soybean plantings are at 1.9% complete versus less than 1% this time last year
- The market awaits next week’s USDA Small Grains Summary and Sep 1 Grain Stocks on September 28th at 11 AM CDT.
StateLine Cooperative is inviting all customers to attend any of the
Town Hall Meetings being hosted by SLC CEO Bill Beukema.
- Discuss year end financials
- Examine global economics and Domestic related ag issues
- Crop year 2019 looking forward
- Question and answer from the floor
September 24 9:00 a.m. Buffalo Center Heritage Town Center
201 2nd Ave. SW Buffalo Center, IA
September 25 9:00 a.m. Armstrong Community Center
519 6th Street Armstrong, IA
September 25 1:30 p.m. Cylinder Heritage Center/ Town Hall
East of Post Office on 1st Street
September 27 9:00 a.m. Burt Community Center
401 1st Street Burt, IA (under Water Tower)