Anyone interested in pre paying expenses for tax purposes please call the Moro Office to let us know. Thank you.
12-11-13 China rejected another load of corn, 59.1 tmt from the US. Citing the presence of MIR 162 (this corn has an insect resistant trait) This latest rejection is in addition to approximately 180tmt that has already been rejected. 2mmt of US corn is on it's way to China now. It is also being reported China has also rejected a batch of DDGs. Wheat futures hit contract lows on Tuesday after the USDA's S&D report raised the carry out for the year by 10mb to 575mb. Ukraine - harvest is moving along with improved production over last year. Wheat trade is sideways to down this morning. Fund positions are estimated to be very short wheat and corn. Corn futures are holding their own due to some additional export demand and some short covering.
*** Jeff did a great job!!! Egypt is tendering for much needed grain. Market reaction to the S&D numbers was to trade ... you guessed it down. Wheat futures down 10 to 11 cents for the front four months, corn down 1-2 cents, soy down 5-8 accross the board. Have you pondered you next marketing steps? Do you have your targets ready and are you watching for them to hit?
12-10-13: Verna is at a marketing meeting, so you will have to settle for my comments. The USDA supply and demand report came out this morning with a few surprises that are not boding well for wheat prices. Projected ending stocks are at 575 million bushels, which was above the range of guesses by the market 'experts'. This is up 10 million bushels from the November report but still well below last year's numbers. The carryout estimates were raised due to expected imports from Canada in the hard red spring and soft red winter markets. Corn was a bit of a surpirse the other way with carryouts toward the bottom of the expert range and nearly 100 million bushels lower than November estimates, driven by increased ethanol production and exports. To compound the problem, world wheat carryouts were raised over 147 million bushels with large crops in Canada and Australia. White wheat basis remains firm as fundamentally, we are still selling at a strong pace.
12-9-13 Futures trade is lacking direction as it awaits the Supply and Demand report due out Tuesday. Trade guesses put US wheat ending stocks at 552.6mb VS the November USDA number of 565mb. The world ending stocks guess was an increase over the last USDA report - 178.8mt VS the Nov USDA # of 178.48mt. Australia is estimating 26.2mt this year. Dec futures expire this Friday. Export inspections for wheat were 19.760mb VS 15.515mb. This is good news as it indicates exports remain strong.
12-06-13: Wheat futures are holding onto overnight chart lows. Corn and bean board offering little support. Yesterday, wheat prices took the biggest selling hit. The last two trading days, wheat values have backed off 15 to 18 cents. For the forth time, wheat has touched 'fall lows. Revived world demand, freezing US Plains temperatures and a record Chicago fund short is now relegated to supporting rolls. Larger Canadian and Australia output figures counter French and Black Sea price elevations. SWW bids reflect the bear's agenda. However, a shock absorbing basis' has tempered downside moves. The next USDA S&D comes out on December 10th. - Comments courtesy of Dain Lauderback.
12-5-13: The Export Sales Report reflecting activity through 11/28/13 was released this morning. Corn showed net sales of 23.4mb; White Wheat showed net sales of 3.95mb. Soybeans showed net sales of 29.59mb. Wheat showed moderate gains. The Markets are still showing some reaction to Canada's Statistics Report showing a record high of 37.5mmt & has caused some lower trading on the mornings markets.
12-4-13 The Canadian Production Forecast is now reporting a 38% increase in wheat from last year, which is causing prices to decrease on the current market. Harvested acres rose 9.9% and yield gained 25%. Analysts had originally forecasted all wheat production to rise from 33.3million to 35.3 million tons along with an estimated output of 33 million tons. On the US market, trade volume is expected to be light today, with the Market holding its gains. The continued weakness of the US Dollar might create some additional buying opportunities. A lack of fresh news in the wheat market could limit potential rallies.
12-3-13 Canada may raise their production estimates for this year's harvest, expectations are for 33.8mmt. Australia's harvest is estimated by ABARE to be 26.2mmt up from the last estimate of 24.5mmt.
12-2-13 Export inspections for wheat were 15.5mb. China reportedly has rejected 2 more cargos of corn - GMO found. This brings the rejection tally to 3 cargos. Futures trades has been mixed and is now trading down 6-7 across the board - good weather for growing crops, row crop price pressure and no disasters to trade.
DNS DP Pool - For the 2013 DNS crop we are offering a delayed pricing opportunity for producers. Click the link to the right for details. DNS DP Contract
Elevator Hours Update:
8 am to 4 pm Monday through Friday
8 am to 4 pm Monday through Friday.
8 am to 4 pm Monday through Friday
Please communicate with MCP elevator staff regarding special circumstances.
The barge companies have changed the way they calculate freight, starting July 1, 2013 initial barge freight will change to: 28 cents off at The Dalles; 29 cents off at Biggs; and 31 cents off at Arlington. Barge surcharges will decrease.
Initial freight and surcharge changes will be adjusted for on your settlement sheets beginning July 1, 2013.
**Remember handle is still 10 cents off at all locations (total freight and handle will be: 38 cents off at The Dalles; 39 cents off at Biggs; and 41 cents off at Arlington)
Chicago Futures trade until 11:15 am each day; Except on market holidays OR if markets are interrupted due to unforeseen circumstances.
The cash market times are as follows; unless interrupted due to unforeseen circumstances:
9:30 am to 12:00 pm for the morning session
2:30 pm to 5:00 pm for the afternoon session
Futures trading hours are as follows; unless interrupted due to unforeseen circumstances or it is a trading holiday:
6:30 am - 11:15 am Pacific Time, Monday - Friday
5:00 pm-5:45 am Pacific Time Sunday - Friday morning. No trade Friday evening.
For all grain marketing needs please call the Moro Office at 541-565-3737 and ask for the grain department.
Posted bids can be found by clicking on the "Cash Grain Bids" link.
Bids are posted twice daily.
Bids are also emailed twice daily. If you would like to be added to our email list feel free to contact us.
Call for the most current bids.
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