Quote Ticker
  • CORN (Dec 16) 335'2 -0'2 9/23/16   1:19 PM CST
  • CORN (Mar 17) 345'0 -0'4 9/23/16   1:19 PM CST
  • CORN (May 17) 351'6 -1'2 9/23/16   1:19 PM CST
  • SOYBEANS (Nov 16) 953'2 -21'4 9/23/16   1:19 PM CST
  • SOYBEANS (Jan 17) 959'6 -21'0 9/23/16   1:19 PM CST
  • SOYBEANS (Mar 17) 965'2 -19'4 9/23/16   1:19 PM CST
  • WHEAT (Dec 16) 403'6 -0'6 9/23/16   1:19 PM CST
  • WHEAT (Mar 17) 426'6 -0'2 9/23/16   1:19 PM CST
  • WHEAT (May 17) 440'4 -0'2 9/23/16   1:19 PM CST
  • SOYBEAN MEAL (Oct 16) 3029 - 46 9/23/16   1:19 PM CST
  • SOYBEAN MEAL (Dec 16) 3022 - 47 9/23/16   1:19 PM CST
  • SOYBEAN MEAL (Jan 17) 3029 - 46 9/23/16   1:19 PM CST
  • SOYBEAN OIL (Oct 16) 33.35 -0.65 9/23/16   1:19 PM CST
  • SOYBEAN OIL (Dec 16) 33.60 -0.65 9/23/16   1:19 PM CST
  • SOYBEAN OIL (Jan 17) 33.81 -0.65 9/23/16   1:19 PM CST
  • OATS (Dec 16) 176'6 -0'2 9/23/16   1:17 PM CST
  • OATS (Mar 17) 187'4 -1'0 9/23/16   1:17 PM CST
  • OATS (May 17) 192'6 -1'0 9/23/16   1:17 PM CST
  • LEAN HOGS (Oct 16) 53.975 -0.200 9/23/16   1:04 PM CST
  • LEAN HOGS (Dec 16) 48.750 0.300 9/23/16   1:04 PM CST
  • LEAN HOGS (Feb 17) 53.125 -0.125 9/23/16   1:04 PM CST
  • LIVE CATTLE (Oct 16) 107.325 0.200 9/23/16   1:04 PM CST
  • LIVE CATTLE (Dec 16) 106.875 - 0.100 9/23/16   1:04 PM CST
  • LIVE CATTLE (Feb 17) 107.250 - 0.225 9/23/16   1:04 PM CST
  • ETHANOL (Oct 16) 1.541 0.011 9/23/16   1:50 PM CST
  • ETHANOL (Nov 16) 1.474 0.003 9/23/16   2:45 PM CST
  • ETHANOL (Dec 16) 1.430 0.001 9/23/16   1:17 PM CST
  • MILK CLASS III (Sep 16) 16.38 9/23/16   1:11 PM CST
  • MILK CLASS III (Oct 16) 15.56 -0.10 9/23/16   1:44 PM CST
  • MILK CLASS III (Nov 16) 15.78 -0.12 9/23/16   1:48 PM CST
  • 10 YR US TREASURY NOTE (Dec 16) 131'00.0 0'05.5 9/23/16   3:59 PM CST
  • 10 YR US TREASURY NOTE (Mar 17) 129'31.0 0'05.5 9/23/16   2:01 PM CST
  • 10 YR US TREASURY NOTE (Jun 17) 130'07.0 0'05.5 9/23/16   2:01 PM CST
  • S&P 500 INDEX (Dec 16) 2158.50 - 10.20 9/23/16   3:17 PM CST
  • S&P 500 INDEX (Mar 17) 2156.00 - 10.20 9/23/16   3:17 PM CST
  • S&P 500 INDEX (Jun 17) 2063.80 - 10.20 9/23/16   3:17 PM CST


Local Cash Bids
North Central PAMill Delivery Cash   Basis    
 #2 Yellow Corn Chart Sep 30, 16    
  Chart Nov 30, 16    
  Chart Mar 31, 17    
 #1 Yellow Soybeans Chart Sep 30, 16    
  Chart Oct 31, 16    
 #2 Soft Red Winter Wheat Chart Sep 30, 16    
Western PA Farm Delivery Cash   Basis    
 #2 Yellow Corn Chart Oct 31, 16    
  Chart Nov 30, 16    
 #2 Soft Red Wheat Chart Sep 30, 16    
South Central PA Mil Delivery Cash   Basis    
 #2 Yellow Corn Chart Sep 30, 16    
  Chart Oct 31, 16    
  Chart Nov 30, 16    
  Chart Dec 31, 16    
  Chart Jan 31, 17    
  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 Sep 30, 16    
  Chart Jan 31, 17    
  Chart Feb 28, 17    
  Chart Mar 31, 17    
 #1 Yellow Soybeans Chart Oct 31, 16    
  Chart Nov 30, 16    
Eastern OH Delivery Cash   Basis    
 #2 Yellow Corn Chart Oct 31, 16    
  Chart Nov 30, 16    
 #2 Soft Red Winter Wheat Chart Sep 30, 16    
Fob New Jersey Delivery Cash   Basis    
 #2 Yellow Corn Chart Sep 30, 16    
  Chart Oct 31, 16    
  Chart Nov 30, 16    
  Chart Dec 31, 16    
  Chart Jan 31, 17    
  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 Sep 30, 16    
 #1 Yellow Soybeans Chart Oct 31, 16    
  Chart Nov 30, 16    
Price as of 09/25/16 12:32PM CDT.
Click to view more Cash Bid Trading System

CHART OF THE DAY
**  US likely  to see record corn harvest despite issues. Updated USDA  Sept  yield estimate at 174.4 bpa.
** World corn carryout seen  near a  record high, but  not quite as burdensome when compared to use.
**  Brazil  meeting reduced second crop production through imports from neighbors.
** Ethanol margins  20 c/gal positive.   Hogs in the red. Dairy back in the black, feedlots  losing $100.
**  US  Corn  should see  continued  strong shipment pace.   Black Sea, Arg, & US competing for O-N-D.
**  Funds leaning  about 150,000-175,000 contracts net short corn.

Overnight, the corn market was quietly mixed, finishing fractionally lower by the AM break.  Not much
new  to  discuss  today,  as the  main  input  going  forward  will  be  yield  reports  and  harvest-time  hedge
activity.  As the harvest rolls further north, yields generally remain quite good, though perhaps missing
the ‘perfect’ mark many farmers had envisioned?  Forecast still a little damp, but should be enough dry
pockets in the short-run to get through a little more early shelling.  Total harvest may be approaching 1
billion bushels when including southern bushels.  On the world scene, early corn planting in southern
Brazil should advance favorably for a while, but rain will be needed in about one week.  Some talk of a
delay in reducing Argentina soy export taxes, which may push a few more acres to corn?  May just be a
scare  tactic  to  get  farmers  to  market  the  past  year’s  crop? French  gov’t  trimmed  corn  carryout
estimates to 2.0 mmt vs. 2.4 last year.  Weekly EIA energy report is expected to be fairly benign for the
ethanol market.  The consensus leading up to it seems to lean toward very small increases in production
after last week’s 3% break off the highs, along with a small build in stocks.  Sept futures expire at noon
today; a few more deliveries put out overnight.

As expected, corn stalled out against tough overhead that extends up to $3.50 CZ.   Not saying it can’t
happen eventually, but certainly wouldn’t on the first push with harvest coming?  The market  should
find initial support against $3.30 for a minute, with stronger support noted  every nickel lower from
there. On a break, consider selling at-the-money straddles at the $3.20 or $3.25 level.


“Stairs  up,  escalator  down,”  was  the  phrase  of  the  day,  as  the  corn  market  erased  the  previous  four
sessions  of  positive  price  action  in  one  fell  swoop.    Though  corn  actually  traded  higher  early  in  the
evening, futures skidded lower and lower as Tuesday’s session dragged on, finishing about nine cents
lower.  Funds decisively returned to the sell side of corn this week, as the Sept WASDE contained no real
game-changing elements to force further short-covering.  Funds sold an estimated 10,000 corn today,
which would take their net short up to an effective 195,000, when taking into account the most recent
CFTC report.  Many doubters on that total, given the short-covering rally that took place prior?  Export
pessimism likely also behind some of the break yesterday, as there are signs discretionary Asian buyers
are beginning to break in favor of Black Sea feedstuffs (both corn & feed wheat).  Latin buyers of course
sticking with US origin on freight.  Overnight, China sold just over half of the 1.02 million metric tons of
2014 vintage corn offered out of reserve.  US issued a complaint to the WTO over China’s farm subsidies,
which likely will not un-thaw trade relations any?

Local Conditions
Mifflintown, PA
Chg Zip Code: 
Temp: 68oF Feels Like: 68oF
Humid: 39% Dew Pt: 42oF
Barom: 30.21 Wind Dir: N
Cond: N/A Wind Spd: 3 mph
Sunrise: 6:58 Sunset: 6:59
As reported at SELINSGROVE, PA at 1:00 PM
 
Local Radar
Mifflintown, PA
Radar
 
Local Forecast
Mifflintown, PA

Sunday

Monday

Tuesday

Wednesday

Thursday
High: 71°F
Low: 40°F
Precip: 0%
High: 70°F
Low: 46°F
Precip: 50%
High: 71°F
Low: 52°F
Precip: 23%
High: 73°F
Low: 47°F
Precip: 80%
High: 72°F
Low: 52°F
Precip: 60%
View complete Local Weather



Video Clips

Wheat was not able to build on the positive trade from Monday. Chicago Dec wheat actually
developed an outside day down, closing right off their lows. Did not get to our sell point between
$4.20 to $4.25. Support remains in the $3.85 to $3.90 for now. Some are trying to build a bigger
rally,  but  there  is  not  much  to  bet  on  in  fundamentals.  Still  see  KC  wheat  as  the  stronger
contract, but it was tugged lower by the Chi market today. KC Dec resistance is at $4.25 to
$4.30. Support lies back at $4.00 for now. Chi Dec-Mch spreads should continue to widen. Sell
a rally to 20 cents. Get more aggressive if you did not get it sold today. KC Dec gained a little on
Chi today. This spread should continue to gain and could go back to a 30 cent premium or
more.

Dec corn ended the day off 13 cents from the highs made prior to the report on Monday. Look
for support at $3.25 to $3.20. Harvest activity is picking up. Some elevators sold Sept trains to
stay  ahead  of  space  tightening---so  glad  to  see  the  corn  movement.  Starting  to  become
concerned  about  how  farmers  market  corn  ---  or  does  not  market  corn  at  these  lower  price
levels.  If  Dec  corn  eventually  trades  down  to  3.20  to  3.15,  it  will  get  even  more  difficult  to
originate ownership coming out of harvest. Could see a tightening basis level than. I know we
are early, but see some reason to bull spread Z/N c orn to protect against firming basis coming
out of harvest. Not a lot of risk at current levels. Can entertain N/Z17 at 17 cent carry as well.

November beans confirmed the outside day in beans c losing 20 lower and is now 46 cents off
Monday highs. Meal also confirmed the formation, but is already testing the lows and may hold
here for a few days. Nov beans testing the lows at $9.37, but feels like we are headed even
lower and might aim at the unfinished counts at $9.21. Still looking at the potential of a trade
under $9.00. At some point here the big export program already on the books becomes support.
It has to be filled. We have seen the farmer sell 40 to 45 pct of his bean crop in advance and
this will go toward filling the export program---but if beans start to feel a little tight because the
farmer  holds  the  balance  at  these  price  levels,  we  could  see  the  basis  remain  strong  and
support the spreads again? Dec meal should see support on a test of 300.00 but in the long
term, this contract can go to 275.00 to 265.00. Dec  bean oil fell through support and took out the
recent lows. This sets up down side counts to 31.20 and possibly 30.40. Do not see a lasting
bear market in oil but the fund length is big and c ould drive the selling. Still see tightening stocks
that should be supportive. A higher close back above 32.30 would take away the negative of
this close today.  It takes a trade above 33.50 to set this market back on a positive note. Look
for oil to hold better than meal.


Futures
@C - CORN - CBOT
Month Open High Low Last Change Close Time More
Dec 16 336'0 338'4 333'6 335'2 -0'2 336'4s 09/23 Chart for @C6Z Options for @C6Z
Mar 17 346'2 348'4 344'0 345'0 -0'4 346'2s 09/23 Chart for @C7H Options for @C7H
May 17 353'4 355'4 351'0 351'6 -1'2 352'6s 09/23 Chart for @C7K Options for @C7K
@S - SOYBEANS - CBOT
Month Open High Low Last Change Close Time More
Nov 16 975'0 976'2 952'4 953'2 -21'4 955'0s 09/23 Chart for @S6X Options for @S6X
Jan 17 980'2 981'0 958'6 959'6 -21'0 961'0s 09/23 Chart for @S7F Options for @S7F
Mar 17 985'2 985'2 964'0 965'2 -19'4 966'4s 09/23 Chart for @S7H Options for @S7H
@W - WHEAT - CBOT
Month Open High Low Last Change Close Time More
Dec 16 403'6 409'4 401'2 403'6 -0'6 404'6s 09/23 Chart for @W6Z Options for @W6Z
Mar 17 427'0 432'0 424'0 426'6 -0'2 428'0s 09/23 Chart for @W7H Options for @W7H
May 17 439'4 445'0 437'6 440'4 -0'2 441'6s 09/23 Chart for @W7K Options for @W7K
@SM - SOYBEAN MEAL - CBOT
Month Open High Low Last Change Close Time More
Oct 16 3078 3079 3022 3029 - 46 3033s 09/23 Chart for @SM6V Options for @SM6V
Dec 16 3074 3077 3015 3022 - 47 3028s 09/23 Chart for @SM6Z Options for @SM6Z
Jan 17 3080 3082 3022 3029 - 46 3035s 09/23 Chart for @SM7F Options for @SM7F
@BO - SOYBEAN OIL - CBOT
Month Open High Low Last Change Close Time More
Oct 16 33.92 34.01 33.30 33.35 -0.65 33.31s 09/23 Chart for @BO6V Options for @BO6V
Dec 16 34.20 34.27 33.55 33.60 -0.65 33.56s 09/23 Chart for @BO6Z Options for @BO6Z
Jan 17 34.43 34.45 33.78 33.81 -0.65 33.79s 09/23 Chart for @BO7F Options for @BO7F
@O - OATS - CBOT
Month Open High Low Last Change Close Time More
Dec 16 176'6 178'0 176'2 176'6 -0'2 177'0s 09/23 Chart for @O6Z Options for @O6Z
Mar 17 188'2 188'6 187'4 187'4 -1'0 187'6s 09/23 Chart for @O7H Options for @O7H
May 17 192'6 -1'0 193'0s 09/23 Chart for @O7K Options for @O7K
@HE - LEAN HOGS - CME
Month Open High Low Last Change Close Time More
Oct 16 54.225 54.975 53.775 53.975 -0.200 54.000s 09/23 Chart for @HE6V Options for @HE6V
Dec 16 48.250 49.250 48.100 48.750 0.300 48.900s 09/23 Chart for @HE6Z Options for @HE6Z
Feb 17 53.150 53.750 52.750 53.125 -0.125 53.350s 09/23 Chart for @HE7G Options for @HE7G
@LE - LIVE CATTLE - CME
Month Open High Low Last Change Close Time More
Oct 16 106.625 107.575 104.425 107.325 0.200 107.275s 09/23 Chart for @LE6V Options for @LE6V
Dec 16 106.075 107.150 104.100 106.875 - 0.100 106.850s 09/23 Chart for @LE6Z Options for @LE6Z
Feb 17 106.800 107.400 104.550 107.250 - 0.225 107.100s 09/23 Chart for @LE7G Options for @LE7G
@AC - ETHANOL - CBOT
Month Open High Low Last Change Close Time More
Oct 16 1.541 1.562 1.540 1.541 0.011 1.546s 09/23 Chart for @AC6V Options for @AC6V
Nov 16 1.474 1.488 1.470 1.474 0.003 1.477s 09/23 Chart for @AC6X Options for @AC6X
Dec 16 1.429 1.430 1.429 1.430 0.001 1.430s 09/23 Chart for @AC6Z Options for @AC6Z
@DA - MILK CLASS III - CME
Month Open High Low Last Change Close Time More
Sep 16 16.40 16.40 16.38 16.38 16.38s 09/23 Chart for @DA6U Options for @DA6U
Oct 16 15.65 15.72 15.55 15.56 -0.10 15.56s 09/23 Chart for @DA6V Options for @DA6V
Nov 16 15.87 15.96 15.78 15.78 -0.12 15.78s 09/23 Chart for @DA6X Options for @DA6X
@TY - 10 YR US TREASURY NOTE - CBOT
Month Open High Low Last Change Close Time More
Dec 16 130'29.5 131'02.5 130'27.5 131'00.0 0'05.5 131'01.0s 09/23 Chart for @TY6Z Options for @TY6Z
Mar 17 129'31.0 0'05.5 130'07.0s 09/23 Chart for @TY7H Options for @TY7H
Jun 17 130'07.0 0'05.5 130'07.0s 09/23 Chart for @TY7M Options for @TY7M
@ZG - Not Authorized - ICEFU
Month Open High Low Last Change Close Time More
Sep 16 Chart for @ZG6U Options for @ZG6U
Oct 16 Chart for @ZG6V Options for @ZG6V
Nov 16 Chart for @ZG6X Options for @ZG6X
SP - S&P 500 INDEX - CME
Month Open High Low Last Change Close Time More
Dec 16 2164.50 2165.50 2156.50 2158.50 - 10.20 2158.10s 09/23 Chart for SP6Z Options for SP6Z
Mar 17 2156.00 2157.90 2150.90 2156.00 - 10.20 2152.20s 09/23 Chart for SP7H Options for SP7H
Jun 17 2145.40 2063.80 - 10.20 2146.70s 09/23 Chart for SP7M Options for SP7M
My Custom Markets
Symbol Open High Low Last Change Close Time More

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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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