Quote Ticker
  • CORN (Mar 17) 368'4 -5'2 2/17/17   1:19 PM CST
  • CORN (May 17) 375'6 -5'4 2/17/17   1:19 PM CST
  • CORN (Jul 17) 383'0 -5'2 2/17/17   1:19 PM CST
  • SOYBEANS (Mar 17) 1034'6 -11'2 2/17/17   1:19 PM CST
  • SOYBEANS (May 17) 1046'0 -11'4 2/17/17   1:19 PM CST
  • SOYBEANS (Jul 17) 1055'0 -11'0 2/17/17   1:19 PM CST
  • WHEAT (Mar 17) 442'4 -6'6 2/17/17   1:19 PM CST
  • WHEAT (May 17) 457'2 -5'6 2/17/17   1:19 PM CST
  • WHEAT (Jul 17) 470'4 -5'2 2/17/17   1:19 PM CST
  • SOYBEAN MEAL (Mar 17) 3406 - 24 2/17/17   1:19 PM CST
  • SOYBEAN MEAL (May 17) 3449 - 23 2/17/17   1:19 PM CST
  • SOYBEAN MEAL (Jul 17) 3478 - 22 2/17/17   1:19 PM CST
  • SOYBEAN OIL (Mar 17) 32.93 -0.63 2/17/17   1:19 PM CST
  • SOYBEAN OIL (May 17) 33.19 -0.65 2/17/17   1:19 PM CST
  • SOYBEAN OIL (Jul 17) 33.46 -0.64 2/17/17   1:19 PM CST
  • OATS (Mar 17) 257'0 1'0 2/17/17   1:19 PM CST
  • OATS (May 17) 251'4 -0'2 2/17/17   1:18 PM CST
  • OATS (Jul 17) 245'2 -3'2 2/17/17   1:16 PM CST
  • LEAN HOGS (Apr 17) 70.650 0.950 2/17/17   1:04 PM CST
  • LEAN HOGS (May 17) 75.725 1.000 2/17/17   1:00 PM CST
  • LEAN HOGS (Jun 17) 79.125 0.975 2/17/17   1:04 PM CST
  • LIVE CATTLE (Feb 17) 118.000 1.400 2/17/17   1:04 PM CST
  • LIVE CATTLE (Apr 17) 114.775 1.675 2/17/17   1:04 PM CST
  • LIVE CATTLE (Jun 17) 105.175 1.225 2/17/17   1:04 PM CST
  • ETHANOL (Mar 17) 1.520 -0.021 2/17/17   1:50 PM CST
  • ETHANOL (Apr 17) 1.545 -0.016 2/17/17   1:50 PM CST
  • ETHANOL (May 17) 1.561 -0.016 2/17/17   1:16 PM CST
  • MILK CLASS III (Feb 17) 16.88     CST
  • MILK CLASS III (Mar 17) 16.86     CST
  • MILK CLASS III (Apr 17) 16.93     CST
  • 10 YR US TREASURY NOTE (Mar 17) 124'21.0 -0'01.5 2/20/17   2:30 AM CST
  • 10 YR US TREASURY NOTE (Jun 17) 124'03.5 -0'01.5 2/20/17   2:27 AM CST
  • 10 YR US TREASURY NOTE (Sep 17) 123'25.5 0'08.5 2/17/17   2:04 PM CST
  • S&P 500 INDEX (Mar 17) 2347.80 2.30 2/17/17   3:16 PM CST
  • S&P 500 INDEX (Jun 17) 2336.50 2.40 2/17/17   3:16 PM CST
  • S&P 500 INDEX (Sep 17) 2140.70 2.40 2/17/17   3:16 PM CST


Local Cash Bids
North Central PAMill Delivery Cash   Basis    
 #2 Yellow Corn Chart Feb 28, 17    
  Chart Mar 31, 17    
  Chart May 31, 17    
  Chart Nov 30, 17    
 #1 Yellow Soybeans Chart Feb 28, 17    
  Chart Mar 31, 17    
  Chart Nov 30, 17    
 #2 Soft Red Winter Wheat Chart Sep 30, 17    
Western PA Farm Delivery Cash   Basis    
 #2 Yellow Corn Chart Feb 28, 17    
  Chart Mar 31, 17    
  Chart Apr 30, 17    
  Chart May 31, 17    
  Chart Jun 30, 17    
  Chart Jul 31, 17    
  Chart Aug 31, 17    
South Central PA Mil Delivery Cash   Basis    
 #2 Yellow Corn Chart Feb 28, 17    
 #2 Soft Red Wheat Chart Feb 28, 17    
  Chart Mar 31, 17    
 #1 Yellow Soybeans Chart Feb 28, 17    
  Chart Mar 31, 17    
Eastern OH Delivery Cash   Basis    
 #2 Yellow Corn Chart Feb 28, 17    
  Chart Mar 31, 17    
  Chart Apr 30, 17    
  Chart May 31, 17    
  Chart Jun 30, 17    
  Chart Jul 31, 17    
  Chart Aug 31, 17    
Fob New Jersey Delivery Cash   Basis    
 #2 Yellow Corn Chart Feb 28, 17    
  Chart Mar 31, 17    
  Chart Apr 30, 17    
  Chart May 31, 17    
  Chart Jun 30, 17    
  Chart Jul 31, 17    
 #2 Soft Red Wheat Chart Feb 28, 17    
  Chart Mar 31, 17    
 #1 Yellow Soybeans Chart Feb 28, 17    
  Chart Mar 31, 17    
Price as of 02/20/17 02:42AM CST.
Click to view more Cash Bid Trading System

CHART OF THE DAY
Feb 2, 2017

**  USDA confirms record 2016 US Corn harvest  – 15.15 billion bushels (revised slightly lower from Nov).
** World corn carryout seen  at a  record high, but  not quite as burdensome when compared to use.
**  Argentina corn planting complete – some re-planting. Brazil already starting to plant second crop.
** Ethanol margins  breakeven/worse.   All livestock sectors  profitable overall.
**  US  Corn  should see  continued  yr/yr gains in exports.   Black Sea, Arg, & US competing for  biz.
**  Funds leaning  slightly net long corn now for the first time since summer?

Overnight, the corn market found some willing sellers after the prior day rally to the top end of the
range, finishing a penny lower by the AM break.  Export sales arrived in good stead, with 1.144 million
metric tons of new business reported; this is the third week in a row above 1 mmt.  Business was split
pretty evenly between unknown, Colombia, Japan, and Taiwan, and even Morocco snuck in for a cargo.
Combined sales + ship for the marketing year to date topped 40 mmt for the first time, which compares
to just 24.3 mmt this time last year.  There were another batch of daily sales announcements today,
which should keep exports steaming ahead; 140k to unknown, 110k  to Japan.  Exports will remain a hot
topic in the days ahead, regardless of the sales pace; US-Mexico said to re-negotiate their portion of
NAFTA  in  May?    Moving  along,  weather  is  still  an  influence,  and  we  continue  to  view  it  somewhat
negatively given stabilization in Argentina and continued benign weather in Brazil.  Rains in early soy
harvesting areas are delaying second crop planting for some.  Brazil exported just 1.5 mmt of corn in
January, down sharply from 4.4 mmt this time last year.

Corn  continues  to  trade  around  a  $3.50  to  $3.70  range,  albeit  with  some  volatility. Shorts  who
covered near $3.55 on our recommendations are  probably  pretty happy? We  expect an awful lot of
“buy stops” were placed  at last week’s high of $3.71, which would be an easy target in the interim.
Look to do bearish things on a trade near $3.75, which coincides with  first PriceCount objectives.


After taking Tuesday off, the funds came to play in the corn market Wednesday.  Futures were a little
softer overnight, and much to the surprise of many, the corn market melted up gradually throughout
the day, ultimately closing 8-9 cents better by days’ end.  Managed Money were viewed net buyers of
upwards of 15,000 contracts, which would leave them close to 25,000 contracts net long.  Cash markets
are weak to start the day, as merchandisers brace for another tranche of farmer sales.  The weekly EIA
ethanol report had some feature, unexpectedly finding a new record high on production.  Production
jumped nearly 1% to a new record high level above 1.061 mil bbl/day; by way of comparison, we were
expecting a 1% decline.  We would expect this to be the high for at least the next four to five months?
Carried forward, such a rate would imply a corn ethanol grind just over 5.8 billion bushels/yr, which is
quite remarkable.  Given the prospects of reduced output ahead, we still feel comfortable forecasting
the full year ethanol grind between 5.35 and 5.40 billion bushels.  Ethanol futures closed near unch’ed
vs.  the  higher  corn  board,  which  sank  the  crush  back  down  to  near  recent  lows.    We  view 
industry margins at breakeven to slightly worse on average across the Midwest, when including all costs.


 

 


Local Conditions
Mifflintown, PA
Chg Zip Code: 
Temp: 35oF Feels Like: 29oF
Humid: 82% Dew Pt: 30oF
Barom: 30.1 Wind Dir: N
Cond: N/A Wind Spd: 7 mph
Sunrise: 6:53 Sunset: 5:48
As reported at SELINSGROVE, PA at 3:00 AM
 
Local Radar
Mifflintown, PA
Radar
 
Local Forecast
Mifflintown, PA

Monday

Tuesday

Wednesday

Thursday

Friday
High: 51°F
Low: 35°F
Precip: 0%
High: 49°F
Low: 32°F
Precip: 30%
High: 61°F
Low: 40°F
Precip: 20%
High: 62°F
Low: 43°F
Precip: 39%
High: 56°F
Low: 45°F
Precip: 67%
View complete Local Weather



Video Clips
  2/9/17 USDA AVERAGE RANGE OF LINN USDA
  USDA 2016-17 JANUARY ANALYSTS ANALYSTS’ 2016-17 2015-16
  ESTIMATE ESTIMATE ESTIMATE ESTIMATES ESTIMATE FINAL
CORN 2.320 2.355 2.335 2.280-2.415 2.380 1.716
SOYBEANS 0.420 0.420 0.410 0.386-0.448 0.347 0.195
WHEAT 1.139 1.186 1.180 1.145-1.211 1.072 0.981
SOYOIL 1.677 1.652       1.810
SOYMEAL 300,000 300,000       300,000
OATS 0.047 0.047       0.057
SORGHUM 0.038 0.038       0.335
RICE 52.1 50.1       46.5
COTTON 4.80 5.00       3.80


 


 

 


Futures
@C - CORN - CBOT
Month Open High Low Last Change Close Time More
Mar 17 373'2 373'2 368'0 368'4 -5'2 368'2s 01:14A Chart for @C7H Options for @C7H
May 17 380'4 380'6 375'2 375'6 -5'4 375'4s 02/19 Chart for @C7K Options for @C7K
Jul 17 387'2 387'4 382'2 383'0 -5'2 382'4s 02/19 Chart for @C7N Options for @C7N
@S - SOYBEANS - CBOT
Month Open High Low Last Change Close Time More
Mar 17 1043'0 1046'2 1031'0 1034'6 -11'2 1032'4s 01:32A Chart for @S7H Options for @S7H
May 17 1054'0 1057'2 1042'0 1046'0 -11'4 1043'2s 02/19 Chart for @S7K Options for @S7K
Jul 17 1062'6 1065'6 1051'0 1055'0 -11'0 1052'2s 02/19 Chart for @S7N Options for @S7N
@W - WHEAT - CBOT
Month Open High Low Last Change Close Time More
Mar 17 445'4 447'4 440'2 442'4 -6'6 441'0s 02:16A Chart for @W7H Options for @W7H
May 17 458'6 460'6 455'0 457'2 -5'6 455'4s 02/19 Chart for @W7K Options for @W7K
Jul 17 471'4 473'6 467'4 470'4 -5'2 468'4s 02/19 Chart for @W7N Options for @W7N
@SM - SOYBEAN MEAL - CBOT
Month Open High Low Last Change Close Time More
Mar 17 3410 3425 3381 3406 - 24 3396s 02:30A Chart for @SM7H Options for @SM7H
May 17 3454 3468 3426 3449 - 23 3439s 02/19 Chart for @SM7K Options for @SM7K
Jul 17 3487 3496 3455 3478 - 22 3469s 02/19 Chart for @SM7N Options for @SM7N
@BO - SOYBEAN OIL - CBOT
Month Open High Low Last Change Close Time More
Mar 17 33.63 33.65 32.84 32.93 -0.63 32.89s 01:30A Chart for @BO7H Options for @BO7H
May 17 33.91 33.93 33.12 33.19 -0.65 33.16s 12:29A Chart for @BO7K Options for @BO7K
Jul 17 34.13 34.15 33.38 33.46 -0.64 33.41s 12:47A Chart for @BO7N Options for @BO7N
@O - OATS - CBOT
Month Open High Low Last Change Close Time More
Mar 17 256'0 259'0 251'2 257'0 1'0 256'6s 02/19 Chart for @O7H Options for @O7H
May 17 251'6 253'0 247'0 251'4 -0'2 251'2s 02/19 Chart for @O7K Options for @O7K
Jul 17 247'0 249'2 245'2 245'2 -3'2 245'6s 02/19 Chart for @O7N Options for @O7N
@HE - LEAN HOGS - CME
Month Open High Low Last Change Close Time More
Apr 17 69.825 71.125 69.825 70.650 0.950 70.775s 02/17 Chart for @HE7J Options for @HE7J
May 17 74.975 75.775 74.875 75.725 1.000 75.700s 02/17 Chart for @HE7K Options for @HE7K
Jun 17 78.300 79.500 78.300 79.125 0.975 79.275s 02/17 Chart for @HE7M Options for @HE7M
@LE - LIVE CATTLE - CME
Month Open High Low Last Change Close Time More
Feb 17 116.750 118.000 116.550 118.000 1.400 117.925s 02/17 Chart for @LE7G Options for @LE7G
Apr 17 113.250 115.100 113.125 114.775 1.675 114.925s 02/17 Chart for @LE7J Options for @LE7J
Jun 17 104.050 105.450 103.950 105.175 1.225 105.375s 02/17 Chart for @LE7M Options for @LE7M
@AC - ETHANOL - CBOT
Month Open High Low Last Change Close Time More
Mar 17 1.533 1.533 1.518 1.520 -0.021 1.520s 02/19 Chart for @AC7H Options for @AC7H
Apr 17 1.552 1.556 1.543 1.545 -0.016 1.548s 02/19 Chart for @AC7J Options for @AC7J
May 17 1.561 1.561 1.561 1.561 -0.016 1.551s 02/19 Chart for @AC7K Options for @AC7K
@DA - MILK CLASS III - CME
Month Open High Low Last Change Close Time More
Feb 17 16.88 16.88 Chart for @DA7G Options for @DA7G
Mar 17 16.86 16.87 Chart for @DA7H Options for @DA7H
Apr 17 16.93 16.90 Chart for @DA7J Options for @DA7J
@TY - 10 YR US TREASURY NOTE - CBOT
Month Open High Low Last Change Close Time More
Mar 17 124'22.0 124'24.0 124'18.0 124'21.0 -0'01.5 124'22.5 02:30A Chart for @TY7H Options for @TY7H
Jun 17 124'04.0 124'05.5 124'01.0 124'03.5 -0'01.5 124'05.0 02:30A Chart for @TY7M Options for @TY7M
Sep 17 123'25.5 0'08.5 123'25.5s 02/17 Chart for @TY7U Options for @TY7U
@ZG - Not Authorized - ICEFU
Month Open High Low Last Change Close Time More
Feb 17 Chart for @ZG7G Options for @ZG7G
Mar 17 Chart for @ZG7H Options for @ZG7H
Apr 17 Chart for @ZG7J Options for @ZG7J
SP - S&P 500 INDEX - CME
Month Open High Low Last Change Close Time More
Mar 17 2338.50 2349.00 2337.50 2347.80 2.30 2347.90s 02/17 Chart for SP7H Options for SP7H
Jun 17 2344.00 2333.00 2336.50 2.40 2343.40s 02/17 Chart for SP7M Options for SP7M
Sep 17 2340.10 2329.10 2140.70 2.40 2339.50s 02/17 Chart for SP7U Options for SP7U
My Custom Markets
Symbol Open High Low Last Change Close Time More

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Disclaimer
An investment in futures contracts involves a high degree of risk and is suitable only for persons who can assume the risk of loss in excess of their margin deposits.  You should carefully consider whether futures trading is appropriate for you in light of your investment experience, trading objectives, financial resources, and other relevant circumstances. Past performance is not necessarily indicative of future results.
 

 
 
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