SunPrairie Grain Morning Comment
MINOT - Mar 5/13 - SNS -- Following is the morning comment from SunPrairie Grain, a division of CHS.
[cid:image001.jpg@01CD002F.571BB930]
Market Outlook as of 8:15 AM CDT:
Wheat is up 0-2 cents, recovering after yesterday's losses, lower US dollar helps (Mpls May last trade 7.92, KC May 7.38 ½)
Soybeans are up 8-10 cents, China says it will stockpile soybeans, among other commodities , market rallies (May last trade 14.71 ¼)
Corn is up 1-2 cents, follow soybeans, word that China is to stockpile corn as well (may last trade 7.04 ½)
Sunflowers are 0-5 higher, bean oil fairly quiet this morning but could rise with soybeans, puling sunflowers up as well
Canola is up 0-5 cents also, following crude oil and soybean prices, little else for market to trade off of
*CHS Harvest for Hunger*
Today marks of the beginning the annual CHS Harvest for Hunger campaign! The CHS Country Operations locations are working together to raise over two million meals for hungry families. Best of all is that for every donation we collect, CHS Country Operations will also make a local contribution to help our friends and neighbors right here in our community. If you would like to make a contribution to Harvest for Hunger you can do so by selling grain or making a cash donation at your local SunPrairie Grain office by March 20th. Let's work together to make this the most successful Harvest for Hunger yet!
*Delayed Price Program*
SunPrairie Grain is offering free DP until July 31st, 2013 on spring wheat and winter wheat delivered by March 15th. All new deliveries of corn and soybeans can be put on DP for 5 cents/bushel/month. Sunflower new deliveries can also be put on delayed for 15 cents/cwt/month.
It's going to be short and sweet today as I have an early morning appointment to get to. The CME group is looking to reduce grain trading hours from the current 21 hour/day trading schedule...just as we were getting used to it. The proposal is for electronic trading to take place from Sunday to Friday from 7:00 pm to 7:45 am, resuming at 8:30 AM to 1:15 PM Monday- Friday. I don't know why the 45 minute break in the morning, but apparently many in the trade have not liked the new trading hours and the CME has received an abundance of negative feedback. Outside markets are favorable for higher grain prices today as the US dollar is lower and crude is about 15 cents/barrel higher.
Wheat markets are rallying a little bit after yesterday's losses, which can be credited in part to the recent line of storms that have moved through hard red winter wheat and corn growing areas. The western HRW areas of Kansas and Nebraska remain fairly dry, but other portions have seen a lot of moisture recently. Prices are not nearly recovering what was lost yesterday, but it's better than seeing prices slide again.
Corn and soybean prices are being boosted this morning by the announcement from China to stockpile those commodities, among others. This means that China could continue to buy up this commodities and that has us thinking about our tight supplies. Soybeans are leading the way, posting double digit gains at the moment. Gains could be limited, though, by fast moving harvest progress in Brazil. However, logistics continue to be an issue and moving new crop supply is not easy. The recent precipitation is expected to hit dry areas of Iowa and Illinois, not ending the drought by any means but certainly providing some much needed relief. More moisture is needed to completely erase concerns. The corn market will continue to look to tight old crop supplies and expectations for an abundance of global corn supply this year, weather permitting.
Kayla Burkhart
Broker/Procurement
SunPrairie Grain
[image003.jpg]
1600 27th St SE | Minot, ND 58701
P 701.857.9322 | F 701.839.5515 | C 701.720.4682
kayla.burkhart
To discuss this report further or for specific trade ideas please contact me
directly
Kayla Hoffman
SunPrairie Grain
Kayla.Hoffman@chsinc.com
Toll free: 800.735.4956
Local: 701.852.1429
Fax: 701.839.5515
DISCLAIMER: Futures and options trading involve substantial risk. The valuation of futures and options may fluctuate, and as a result, clients may lose more then their original investment. In no event should the content of this website be construed as an express or an implied promise, guarantee or implication by or from the author(s) that you will profit or that losses can or will be limited in any manner whatsoever. Past performance is not necessarily indicative of future results. Information provided on this website is intended solely for informative purposes and is obtained from sources believed to be reliable. Information is in no way guaranteed. No guarantee of any kind is implied or possible where projections of future conditions are attempted.
Information on this page is derived from third parties and is deemed to be reliable. STAT Communications Ltd. accepts no responsibility for errors, omissions or inaccuracies in any of the material presented on this web site. Opinions expressed on this web site are those of the respective individuals and/or institutions and do not represent the opinions of STAT Communications Ltd. or its staff or its management.
Only active subscribers can read all of this article.
If you are a subscriber, please log into the website.
If you are not a subscriber, click here to subscribe to this edition of the STAT website and to learn more about becoming a subscriber.
