Quote Ticker
  • CORN (Mar 16) 359'0 -1'4 2/12/16   1:19 PM CST
  • CORN (May 16) 364'0 -1'4 2/12/16   1:19 PM CST
  • CORN (Jul 16) 369'0 -1'2 2/12/16   1:19 PM CST
  • SOYBEANS (Mar 16) 872'6 -0'6 2/12/16   1:19 PM CST
  • SOYBEANS (May 16) 876'2 -1'2 2/12/16   1:19 PM CST
  • SOYBEANS (Jul 16) 882'0 -1'2 2/12/16   1:19 PM CST
  • WHEAT (Mar 16) 457'6 -0'6 2/12/16   1:19 PM CST
  • WHEAT (May 16) 463'4 -1'0 2/12/16   1:19 PM CST
  • WHEAT (Jul 16) 468'2 -1'0 2/12/16   1:19 PM CST
  • SOYBEAN MEAL (Mar 16) 2622 - 17 2/12/16   1:19 PM CST
  • SOYBEAN MEAL (May 16) 2643 - 20 2/12/16   1:19 PM CST
  • SOYBEAN MEAL (Jul 16) 2667 - 22 2/12/16   1:19 PM CST
  • SOYBEAN OIL (Mar 16) 31.86 0.21 2/12/16   1:19 PM CST
  • SOYBEAN OIL (May 16) 32.08 0.21 2/12/16   1:19 PM CST
  • SOYBEAN OIL (Jul 16) 32.29 0.20 2/12/16   1:19 PM CST
  • OATS (Mar 16) 194'6 4'6 2/12/16   1:17 PM CST
  • OATS (May 16) 200'0 3'4 2/12/16   1:17 PM CST
  • OATS (Jul 16) 208'0 3'4 2/12/16   1:17 PM CST
  • LEAN HOGS (Feb 16) 65.950 0.425 2/12/16   12:00 PM CST
  • LEAN HOGS (Apr 16) 70.275 0.925 2/12/16   1:54 PM CST
  • LEAN HOGS (May 16) 76.200 0.625 2/12/16   1:06 PM CST
  • LIVE CATTLE (Feb 16) 130.000 - 0.175 2/12/16   1:54 PM CST
  • LIVE CATTLE (Apr 16) 129.150 - 0.400 2/12/16   1:54 PM CST
  • LIVE CATTLE (Jun 16) 119.625 - 0.350 2/12/16   1:52 PM CST
  • ETHANOL (Mar 16) 1.370 0.003 2/12/16   2:09 PM CST
  • ETHANOL (Apr 16) 1.390 0.006 2/12/16   1:20 PM CST
  • ETHANOL (May 16) 1.390 0.002 2/12/16   2:21 PM CST
  • MILK CLASS III (Feb 16) 13.87 -0.01 2/12/16   1:11 PM CST
  • MILK CLASS III (Mar 16) 14.06 0.05 2/12/16   1:11 PM CST
  • MILK CLASS III (Apr 16) 14.11 0.05 2/12/16   1:11 PM CST
  • 10 YR US TREASURY NOTE (Mar 16) 131'01.5 -0'31.0 2/12/16   3:59 PM CST
  • 10 YR US TREASURY NOTE (Jun 16) 130'21.5 -0'31.0 2/12/16   3:58 PM CST
  • 10 YR US TREASURY NOTE (Sep 16) 129'31.0 -0'31.0 2/12/16   2:01 PM CST
  • S&P 500 INDEX (Mar 16) 1858.00 33.80 2/12/16   3:22 PM CST
  • S&P 500 INDEX (Jun 16) 1851.00 33.80 2/12/16   3:22 PM CST
  • S&P 500 INDEX (Sep 16) 1815.00 33.80 2/12/16   3:22 PM CST


Local Cash Bids
North Central PAMill Delivery Cash   Basis    
 #2 Yellow Corn Chart Mar 31, 16    
 #1 Yellow Soybeans Chart Mar 31, 16    
 #2 Soft Red Winter Wheat Chart Sep 30, 16    
Western PA Farm Delivery Cash   Basis    
 #2 Yellow Corn Chart Feb 29, 16    
  Chart Mar 31, 16    
 #2 Soft Red Wheat Chart Feb 29, 16    
  Chart Mar 31, 16    
  Chart Jul 31, 16    
  Chart Aug 31, 16    
  Chart Sep 30, 16    
South Central PA Mil Delivery Cash   Basis    
 #2 Yellow Corn Chart Feb 29, 16    
  Chart Mar 31, 16    
 #2 Soft Red Wheat Chart Feb 29, 16    
  Chart Mar 31, 16    
  Chart Jul 31, 16    
  Chart Aug 31, 16    
  Chart Sep 30, 16    
 #1 Yellow Soybeans Chart Feb 29, 16    
  Chart Mar 31, 16    
Eastern OH Delivery Cash   Basis    
 #2 Yellow Corn Chart Feb 29, 16    
  Chart Mar 31, 16    
 #1 Yellow Soybeans Chart Feb 29, 16    
  Chart Mar 31, 16    
 #2 Soft Red Winter Wheat Chart Feb 29, 16    
  Chart Mar 31, 16    
  Chart Jul 31, 16    
  Chart Aug 31, 16    
  Chart Sep 30, 16    
Fob New Jersey Delivery Cash   Basis    
 #2 Yellow Corn Chart Feb 29, 16    
  Chart Mar 31, 16    
 #2 Soft Red Wheat Chart Feb 29, 16    
  Chart Mar 31, 16    
  Chart Jul 31, 16    
  Chart Aug 31, 16    
  Chart Sep 30, 16    
 #1 Yellow Soybeans Chart Feb 29, 16    
  Chart Mar 31, 16    
Price as of 02/13/16 05:28PM CST.
Click to view more Cash Bid Trading System

CHART OF THE DAY


Feb 9, 2016

The markets have gone past the chance to rally. Inc reased open interest over the last few days
shows the trade adding to shorts in front of the report. Meal and wheat markets continue to
chew lower extending new lows daily. The Matif wheat market is making third counts at 150
Euros. It has certainly been a down side leader. Not sure what or when this market finds a bid. It
is so heavily oversold that it is dangerous to the short, but trade has been rewarded for sticking
to its bearish attitudes. Meal has had no friends for a while but has been resurrected several
times in liquidation of oil/meal positions. Oil/meal into new highs this week even as the board
crush come back under pressure.

Chicago March wheat is still pressing to take out the Jan lows. KC has already done it. Consider
the 4.52 counts as made with those Jan lows. The next down side count is 4.08. Oversold so
may get a bounce from here. Watch night session in Matif for a hint?

The corn market finally closed the gap and suggests that this rally is done. That should leave
the $3.65 as resistance now. Expect selling there. Targets look to be a test of the $3.50 lows
from Jan. If those lows come out, the down side count goes to $3.28.

March soybean meal has next down side count to $226.00. However, the weekly chart has a
count to $200.00. Bearish no matter how you look at it. March bean oil has unfinished counts at
35.00. However, we need to get back over the 31.70 highs from last week to put that trade in
motion. Support lies from 30.50 to 30 cents.

March beans should have selling on rallies back up near $8.75. A trade under $8.60 would push
this market back toward the next down side count at $7.80. It is interesting that the weekly count
goes to near the same level.


 

The reports were as follows (and we wish to thank our old

friends at CIS, Inc. in Oklahoma City, for the data below):

Corn: 2015-16 US ending stocks of 1837 million bushels,
above expectations of 1809;-2015-16 world ending stocks
of 208.8 million tonnes,
above expectations of 208.3.

Soybeans: 2015-16 US ending stocks of 450 million bushels,
above expectations of 445;  2015-16 world ending stocks of 80.4
million tonnes,
above  expectations of 79.0.

Wheat: 2015-16 US ending stocks of 966 million bushels,
above expectations of 947; 2015-16 world ending stocks of 238.9
million tonnes,
above expectations of 231.5.

On balance the reports were bearish with all of the ending stocks,
whether domestic or global, above LaSalle Street’s pre-report expectations


 

… is from a radio interview with Ayn Rand in 1980, which appears in the book
Objectively Speaking: Ayn Rand Interviewed (p. 249-250):

Throughout the history of Europe, the values and ideas of its people never changed
on one basic point: Europe is a state-worshiping culture. It has always worshipped
the power of the state, whether it is in the form of absolute monarchs, or later, of collectivists.
European societies have never understood the importance of the individual and individual rights.
Individualism is an American concept. Obviously, some people in Europe understand it,
but they are the exceptions. Because European culture is so steeped in the altruistic idea that man
must exist for others, the greatest distinction the European can dream of is to serve, or be rewarded
by, the state. The state is regarded as an almost supernatural being and the individual citizen as
just a serf.

In America, it is exactly the opposite. America is the first country in history that was deliberately
and consciously founded on a certain philosophy. It is a philosophy, rooted in Aristotelianism,
which respects the individual and holds that society should be based on individual rights. This
principle was formulated for the first time in the United States by the Founding Fathers. It is so
great an achievement that centuries from now, men should kneel when they think of what their
forefathers created in this country.



 

 


Local Conditions
Mifflintown, PA
Chg Zip Code: 
Temp: 13oF Feels Like: -4oF
Humid: 38% Dew Pt: -8oF
Barom: 30.31 Wind Dir: NW
Cond: N/A Wind Spd: 17 mph
Sunrise: 7:04 Sunset: 5:38
As reported at SELINSGROVE, PA at 5:00 PM
 
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Mifflintown, PA
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Mifflintown, PA

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Video Clips
Reagan - I get to tell a farm joke




Why Hedge? 

"The hedger is there when the "evil" times that inevitably evolve in any
business finally do evolve. It is then that the non-hedger is left to the vagaries
of random, violent market noise. It is then that the non-hedger’s bank lines
are called, and it is then that the non- hedger is forced to sell his assets…
often and/or usually to the quiet, consistent hedger. Several years ago it dawned
upon us; the hedger hedges so that he can buy the assets of his competitors
when the banks collectively force that competitor into closing his/her doors. The
hedger hedges so that when the ill times come he can buy his competitors assets
at pennies upon the dollar, with the help of the banks who wish to rid themselves
of loans that have gone bad. Hedgers hedge to take advantage of their competitors
who "puke" at the "puke point."


We thought about why it was that hedgers did hedge given that the cost of hedging
can be
material and given that over time these costs do indeed add up. Some
have also rightfully argued that if over time
prices moved up, or down or sideways
but tend on
balance to average out, we wondered to ourselves if hedging activities
really were useful. We too wondered
this until it dawned upon us one evening that
hedgers
hedge to be there amidst the panic and to profit when all others around them
are declaring bankruptcy or simply
closing their doors; tossing in the keys and giving up.
This rings all the more true now as the oil industry is collapsing in upon itself.
Bankruptcies are everywhere
and shall become even more abundant. Those who hedged
will be there when the smoke is the thickest and
the damage the worst; those who did not
will be taken
over by those who did… for pennies upon the dollar.

Hedgers hedge to profit from the panic.

 

.

Futures
@C - CORN - CBOT
Month Open High Low Last Change Close Time More
Mar 16 361'0 362'0 358'2 359'0 -1'4 358'6s 02/12 Chart for @C6H Options for @C6H
May 16 365'0 366'6 363'2 364'0 -1'4 363'4s 02/12 Chart for @C6K Options for @C6K
Jul 16 370'0 371'4 368'2 369'0 -1'2 368'4s 02/12 Chart for @C6N Options for @C6N
@S - SOYBEANS - CBOT
Month Open High Low Last Change Close Time More
Mar 16 873'0 875'4 868'4 872'6 -0'6 872'6s 02/12 Chart for @S6H Options for @S6H
May 16 877'0 880'0 872'4 876'2 -1'2 876'4s 02/12 Chart for @S6K Options for @S6K
Jul 16 882'4 885'0 878'0 882'0 -1'2 881'6s 02/12 Chart for @S6N Options for @S6N
@W - WHEAT - CBOT
Month Open High Low Last Change Close Time More
Mar 16 458'6 462'0 455'0 457'6 -0'6 457'4s 02/12 Chart for @W6H Options for @W6H
May 16 463'4 466'6 460'4 463'4 -1'0 462'4s 02/12 Chart for @W6K Options for @W6K
Jul 16 469'4 472'2 466'0 468'2 -1'0 467'6s 02/12 Chart for @W6N Options for @W6N
@SM - SOYBEAN MEAL - CBOT
Month Open High Low Last Change Close Time More
Mar 16 2637 2647 2610 2622 - 17 2620s 02/12 Chart for @SM6H Options for @SM6H
May 16 2658 2668 2633 2643 - 20 2641s 02/12 Chart for @SM6K Options for @SM6K
Jul 16 2687 2692 2660 2667 - 22 2665s 02/12 Chart for @SM6N Options for @SM6N
@BO - SOYBEAN OIL - CBOT
Month Open High Low Last Change Close Time More
Mar 16 31.54 31.98 31.53 31.86 0.21 31.80s 02/12 Chart for @BO6H Options for @BO6H
May 16 31.78 32.19 31.76 32.08 0.21 32.02s 02/12 Chart for @BO6K Options for @BO6K
Jul 16 32.06 32.42 32.05 32.29 0.20 32.24s 02/12 Chart for @BO6N Options for @BO6N
@O - OATS - CBOT
Month Open High Low Last Change Close Time More
Mar 16 192'2 198'4 190'6 194'6 4'6 196'2s 02/12 Chart for @O6H Options for @O6H
May 16 198'0 201'4 195'0 200'0 3'4 200'0s 02/12 Chart for @O6K Options for @O6K
Jul 16 206'0 208'0 204'0 208'0 3'4 209'0s 02/12 Chart for @O6N Options for @O6N
@HE - LEAN HOGS - CME
Month Open High Low Last Change Close Time More
Feb 16 65.750 65.975 65.725 65.950 0.425 65.950s 02/12 Chart for @HE6G Options for @HE6G
Apr 16 69.500 70.775 69.275 70.275 0.925 70.375s 02/12 Chart for @HE6J Options for @HE6J
May 16 75.650 76.325 75.650 76.200 0.625 76.275s 02/12 Chart for @HE6K Options for @HE6K
@LE - LIVE CATTLE - CME
Month Open High Low Last Change Close Time More
Feb 16 130.550 131.600 129.375 130.000 - 0.175 129.950s 02/12 Chart for @LE6G Options for @LE6G
Apr 16 130.000 130.875 128.600 129.150 - 0.400 129.125s 02/12 Chart for @LE6J Options for @LE6J
Jun 16 120.400 121.250 119.200 119.625 - 0.350 119.625s 02/12 Chart for @LE6M Options for @LE6M
@AC - ETHANOL - CBOT
Month Open High Low Last Change Close Time More
Mar 16 1.378 1.380 1.369 1.370 0.003 1.376s 02/12 Chart for @AC6H Options for @AC6H
Apr 16 1.385 1.393 1.385 1.390 0.006 1.389s 02/12 Chart for @AC6J Options for @AC6J
May 16 1.401 1.401 1.388 1.390 0.002 1.392s 02/12 Chart for @AC6K Options for @AC6K
@DA - MILK CLASS III - CME
Month Open High Low Last Change Close Time More
Feb 16 13.90 13.90 13.87 13.87 -0.01 13.87s 02/12 Chart for @DA6G Options for @DA6G
Mar 16 14.05 14.11 14.02 14.06 0.05 14.06s 02/12 Chart for @DA6H Options for @DA6H
Apr 16 14.09 14.15 14.09 14.11 0.05 14.11s 02/12 Chart for @DA6J Options for @DA6J
@TY - 10 YR US TREASURY NOTE - CBOT
Month Open High Low Last Change Close Time More
Mar 16 131'27.0 132'00.0 130'30.5 131'01.5 -0'31.0 131'02.0s 02/12 Chart for @TY6H Options for @TY6H
Jun 16 131'16.5 131'19.0 130'20.0 130'21.5 -0'31.0 130'22.0s 02/12 Chart for @TY6M Options for @TY6M
Sep 16 129'31.0 -0'31.0 129'31.0s 02/12 Chart for @TY6U Options for @TY6U
@ZG - Not Authorized - ICEFU
Month Open High Low Last Change Close Time More
Feb 16 Chart for @ZG6G Options for @ZG6G
Mar 16 Chart for @ZG6H Options for @ZG6H
Apr 16 Chart for @ZG6J Options for @ZG6J
SP - S&P 500 INDEX - CME
Month Open High Low Last Change Close Time More
Mar 16 1844.00 1860.50 1833.50 1858.00 33.80 1858.30s 02/12 Chart for SP6H Options for SP6H
Jun 16 1832.50 1851.00 1832.50 1851.00 33.80 1849.20s 02/12 Chart for SP6M Options for SP6M
Sep 16 1842.80 1823.80 1815.00 33.80 1841.60s 02/12 Chart for SP6U Options for SP6U
DJ - DJF0 - UNKNOWN
Month Open High Low Last Change Close Time More
Jan 20 Chart for DJ0F Options for DJ0F
My Custom Markets
Symbol Open High Low Last Change Close Time More

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Please give us a call for current and in season
prices for all of your fertilizer needs. We have very
competitive prices on 30% UAN, Starter, MAP,
DAP, AMS, and Potash.  We also offer custom
dry and liquid blends.

(877) 343-4278 or email us @
jon@keystonecommodities.com
 

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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