Quote Ticker
  • CORN (Mar 15) 386'4 3'0 1/23/15   1:30 PM CST
  • CORN (May 15) 395'2 3'2 1/23/15   1:30 PM CST
  • CORN (Jul 15) 402'6 3'4 1/23/15   1:30 PM CST
  • SOYBEANS (Mar 15) 972'4 -4'0 1/23/15   1:30 PM CST
  • SOYBEANS (May 15) 979'2 -3'4 1/23/15   1:30 PM CST
  • SOYBEANS (Jul 15) 985'0 -3'4 1/23/15   1:30 PM CST
  • WHEAT (Mar 15) 529'0 -3'6 1/23/15   1:30 PM CST
  • WHEAT (May 15) 531'6 -4'4 1/23/15   1:30 PM CST
  • WHEAT (Jul 15) 536'2 -4'2 1/23/15   1:30 PM CST
  • SOYBEAN MEAL (Mar 15) 3308 14 1/23/15   1:30 PM CST
  • SOYBEAN MEAL (May 15) 3234 11 1/23/15   1:30 PM CST
  • SOYBEAN MEAL (Jul 15) 3216 7 1/23/15   1:30 PM CST
  • SOYBEAN OIL (Mar 15) 31.62 -0.37 1/23/15   1:30 PM CST
  • SOYBEAN OIL (May 15) 31.80 -0.37 1/23/15   1:30 PM CST
  • SOYBEAN OIL (Jul 15) 31.99 -0.36 1/23/15   1:30 PM CST
  • OATS (Mar 15) 302'0 -0'4 1/23/15   1:30 PM CST
  • OATS (May 15) 294'0 -0'6 1/23/15   1:30 PM CST
  • OATS (Jul 15) 298'2 -1'0 1/23/15   1:30 PM CST
  • LEAN HOGS (Feb 15) 69.300 -2.300 1/23/15   1:17 PM CST
  • LEAN HOGS (Apr 15) 70.600 -2.225 1/23/15   1:17 PM CST
  • LEAN HOGS (May 15) 88.500 -2.750 1/23/15   1:17 PM CST
  • LIVE CATTLE (Feb 15) 150.650 - 3.000 1/23/15   1:17 PM CST
  • LIVE CATTLE (Apr 15) 148.800 - 3.000 1/23/15   1:17 PM CST
  • LIVE CATTLE (Jun 15) 143.900 - 3.000 1/23/15   1:17 PM CST
  • ETHANOL (Feb 15) 1.433 0.037 1/23/15   2:15 PM CST
  • ETHANOL (Mar 15) 1.439 0.038 1/23/15   1:46 PM CST
  • ETHANOL (Apr 15) 1.460 0.038 1/23/15   1:19 PM CST
  • MILK CLASS III (Jan 15) 16.08 0.07 1/23/15   1:25 PM CST
  • MILK CLASS III (Feb 15) 15.01 0.22 1/23/15   1:25 PM CST
  • MILK CLASS III (Mar 15) 14.61 0.25 1/23/15   1:46 PM CST
  • 10 YR US TREASURY NOTE (Mar 15) 129'26.5 0'17.5 1/23/15   3:59 PM CST
  • 10 YR US TREASURY NOTE (Jun 15) 129'03.5 0'19.0 1/23/15   2:00 PM CST
  • 10 YR US TREASURY NOTE (Sep 15) 128'22.0 0'19.0 1/23/15   2:00 PM CST
  • S&P 500 INDEX (Mar 15) 2043.70 - 12.50 1/23/15   3:22 PM CST
  • S&P 500 INDEX (Jun 15) 2020.00 - 12.60 1/23/15   3:22 PM CST
  • S&P 500 INDEX (Sep 15) 2008.00 - 12.70 1/23/15   3:22 PM CST
  • DJ INDUSTRIAL AVERAGE (Mar 15) 17632.00 - 149.00 1/23/15   3:16 PM CST
  • DJ INDUSTRIAL AVERAGE (Jun 15) 17300.00 - 145.00 1/23/15   3:16 PM CST
  • DJ INDUSTRIAL AVERAGE (Sep 15) 17429.00 - 145.00 1/23/15   3:16 PM CST


Local Cash Bids
North Central PAMill Delivery Cash   Basis    
 #2 Yellow Corn Chart Jan 31, 15    
  Chart Mar 31, 15    
  Chart May 31, 15    
 #1 Yellow Soybeans Chart Jan 31, 15    
  Chart Oct 31, 15    
 #2 Soft Red Winter Wheat Chart Jan 31, 15    
  Chart Mar 31, 15    
Western PA Farm Delivery Cash   Basis    
 #2 Yellow Corn Chart Jan 31, 15    
  Chart Feb 28, 15    
  Chart Mar 31, 15    
South Central PA Mil Delivery Cash   Basis    
 #2 Yellow Corn Chart Jan 31, 15    
  Chart Feb 28, 15    
  Chart Mar 31, 15    
 #2 Soft Red Wheat Chart Jan 31, 15    
 #1 Yellow Soybeans Chart Jan 31, 15    
  Chart Feb 28, 15    
  Chart Mar 31, 15    
Eastern OH Delivery Cash   Basis    
 #2 Yellow Corn Chart Jan 31, 15    
  Chart Feb 28, 15    
  Chart Mar 31, 15    
Fob New Jersey Delivery Cash   Basis    
 #2 Yellow Corn Chart Jan 31, 15    
  Chart Feb 28, 15    
  Chart Mar 31, 15    
 #2 Soft Red Wheat Chart Jan 31, 15    
  Chart Feb 28, 15    
  Chart Mar 31, 15    
 #1 Yellow Soybeans Chart Jan 31, 15    
  Chart Feb 28, 15    
  Chart Mar 31, 15    
Price as of 01/25/15 02:16PM CST.
Click to view more Cash Bid Trading System

CHART OF THE DAY
1/16/2015

South American weather, the dollar into new highs and growing world ending stocks seemed to have all
played a role in this week’s negative price action. Corn ended the week around 13 lower, wheat ended
the week around 30 lower and beans ended the week more than 60 lower.
The overnight markets were a little better in both wheat and corn, with the soy trading two-sided. The
beans received more negative news towards the end of the night session when the USDA announced
that China cancelled 285 TMT of US beans. There was  talk of this possibly happening, but the market
still reacted with a ten cent break. Throughout the day the corn and wheat markets traded a little higher,
and the beans were able to recover after its poor s tart and trade two sided throughout the last half of
the day.
The late break in wheat (March settling unchanged) pushed the string for consecutive closes without
posting higher gains to eight. The underlying issues still remain. The soaring dollar along with another
big build in world stocks in Monday's report seemed to set the tone for the week. Also, the current 75
cent  break  has  not  really  seemed  to  have  helped  the  U.S.  export  competitiveness.  Avg  prices  on
Egypt’s tender yesterday  was about $8 under  what traded from France last week, but the U.S. still
remains a $25/MT loser on a landed basis to Egypt.
The corn market found a nice bounce today to close out the week in quiet action - but ultimately, the
damage was already done for the week. Monday's report offered the market some initial support, but
after Tuesday’s debacle the market never fully recovered. Corn basis retained its firmer tone on the
lower board on a lack of farm movement, despite the fact that end-user margins have weakened over
the last couple of months. Ethanol and dairy are now solidly in the red, feedlot margins are close, while
hog margins at around $40/head are half recent highs.
China continues to approve loans for farmers. China's central bank will loan banks 50 billion Yuan to be
re-loaned to farmers and small businesses, with 40 pct of that aimed at agriculture.
A reminder that the grain markets will be closed Sunday evening and Monday, and will re-open Monday
night for Tuesday's trade.


TRENDS:
March corn had a nice bounce today, but we should expect to find some strong resistance from today’s
settle up to 3.90. If we see a reversal Tuesday, the first line of support will come in between 3.74 and
3.72. If this market settles below this level, the next counts come in around 3.57.
Chicago wheat had every chance to break the streak and close higher, but an eight cent break on the
close thwarted those hopes. The market is oversold and due a bounce, but after today’s price action
expect selling on any ten cent bounce. Look for support down around the November lows near 5.20,
than near 5.10, and the psychological 5.00 level.
March beans had a mixed day as the market tries to recover after finally breaking down through its
recent  range.  Look for rallies  to  struggle  to  hold  as  we  should  see selling  up  near  10.00  and  even
stronger resistance to surface at 10.10. First downside counts rests at 9.71, and a settle below this
level sets up a possible run to 9.32


** USDA “finalized” US yields at 171.0 bpa (down from 173.4 in Dec) for a still record large 14.2 bil crop.
** World corn carryout seen expanding this year to a multi-year high of 189 mmt.
** South American corn plantings near complete.  Private estimates nearing 100 mmt total SAM.
** Livestock margins profitable.  Ethanol & Dairy poor.  Export competitiveness mixed.
** Spec funds net long 165,000 corn, both outright and likely against other ag shorts via spreads.

Overnight markets were firmer on late week bargain-hunting, finishing less than 2 cents higher by the
AM break.  Excluding the overnight bounce, corn is 20 cents lower for the week, and 30 cents below
recent highs.  Basis retained its firmer tone on the lower board on a lack of farm movement, despite the
fact that end-user margins have weakened over the last couple of months.  Ethanol & Dairy are now
solidly in the red, feedlot margins are close, while hog margins at around $40/head are half recent highs.
Fresh news is light this morning, though several outside factors still hold sway.  Financial markets are still
somewhat unsettled with the Swiss move yesterday, and the USD remains near recent multi-year highs.
Russia-Ukraine tensions are still prevalent, and fund activity heightened in several key markets including
energy and livestock.  Funds are still long roughly 150,000 corn, which CFTC data tonight will tighten up.
101,600 mt of corn were sold to “unknown” under daily reporting this AM.

Corn looks set to trade around a bit, with buying below and selling above.  Breaking $3.75 should yield
a further 10-15 cent correction, while rallies above $3.90 will likely find plenty of selling.  Keep an eye
on N/Z spreads – sell it on a small bounce, risking the pre-report highs.

Another day of big ranges in the corn market Thursday, though both the early rally and the late break
struggled  to  hold.


Corn  finished  a  penny  lower  in  the  end,  with  funds  seen  net  even  on  the  day.
Surprisingly, open interest was 15,000 contracts higher – likely new longs as end-users take coverage?
The eventual downshift in price today was helped along by the GFS model, which finally confirmed other
model  runs  that  showed  increased  rainfall  chances  for  areas  of  Brazil  that  are  drying  out  this  week.
Argentina was dry overnight, and will stay that way for a few days, which is actually quite beneficial and
will  allow  drenched  fields  a  chance  to  wring  themselves  out.
Rains  are  expected  to  return  shortly thereafter.  In the export arena, Turkey finally pulled the trigger on
their 100,000 mt corn tender for Feb/Mar delivery.  Markets are closed Monday for MLK Day, re-opening that
evening.

LaSalle Street News Top News:
**USDA reported private sale of 101,600 mt of Corn to "unknown" destination for the 14/15 MY
-- Cash grain traders on Friday say 100,000 mt of feed Corn was bought by state grain buyer in Turkey.

The grain is for shipment in the Feb through March period.  Prices were said to be $193.25/mt for
20,000, $193.74/mt for 60,000 mt, both delivered in February; March shipments were said to be
$194.74/mt for 20,000 and $194.94/mt for 60,000 mt cif.

Local Conditions
Mifflintown, PA
Chg Zip Code: 
Temp: 38oF Feels Like: 38oF
Humid: 62% Dew Pt: 26oF
Barom: 29.82 Wind Dir: WNW
Cond: N/A Wind Spd: 3 mph
Sunrise: 7:23 Sunset: 5:15
As reported at SELINSGROVE, PA at 2:00 PM
 
Local Radar
Mifflintown, PA
Radar
 
Local Forecast
Mifflintown, PA

Sunday

Monday

Tuesday

Wednesday

Thursday
High: 40°F
Low: 28°F
Precip: 35%
High: 28°F
Low: 21°F
Precip: 80%
High: 28°F
Low: 19°F
Precip: 80%
High: 28°F
Low: 12°F
Precip: 0%
High: 31°F
Low: 11°F
Precip: 30%
View complete Local Weather

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Video Clips


 America’s oil imports from the 12-member OPEC countries dropped in October
of last year (most recent month available) to a 28-year low of only 2.62 million barrels per day (bpd),
the lowest level since April 1986. From the peak of 6.4 million bpd in January 2008, America’s oil imports
from OPEC have fallen by more than 59%, and for that dramatic drop we can thank hydraulic fracturing,
horizontal drilling and the domestic shale oil bonanza.


Chart of the day:  With the price of gasoline at its lowest level ever when adjusted for fuel economy and
measured in “time cost,” it’s a great time to celebrate the “marvel and power of the market and market prices”
and Jeff Tucker does that exceptionally well in his article. Resource economist Julian Simon must be smiling
right now because he predicted throughout his noteworthy career that the prices of commodity and resources
would generally trend downward in the long run due to market forces, innovation, and technology. Today’s low
gas and oil prices are an appropriate tribute to Julian Simon, and a compelling confirmation of his many decades
of work and writing on resource economics.
 

At today’s price of $2.09 per gallon, gasoline prices in the US are the lowest in history, adjusting for increased fuel
economy and higher wages as the chart above illustrates. At today’s average fuel economy of 25.1 miles per gallon,
a typical car would require just under four gallons of gas, which would cost $8.32 at today’s price of $2.09.  At the
estimated average hourly wage today of $20.82, a typical worker would have to work for 24 minutes to earn enough
pre-tax income to purchase the gas required to drive 100 miles, and that brings the “time cost of gas” priced in
minutes of work to the lowest level in US history.

It’s therefore a great time for us to acknowledge and celebrate the importance of falling gas and oil prices, as Jeffrey
Tucker suggests in his excellent and timely article “All Hail the Tumbling Price of Gas:
The people against the powerful at the pump
.” As Jeff points out, consumers should be especially happy about today’s
low gas prices because there are many very powerful special interest groups who are very unhappy that gas prices are
approaching $2.09 per gallon (and 43.5% below the $3.70 price in April) and that oil prices are below $50 per barrel.

As Jeff describes it, today’s low gas prices are an impressive tribute to the “marvels of the market” and he points out that
there are at least eight very powerful special interest groups who benefit from high prices for gas and oil, and they
hate today’s low prices. But even the combined power of those eight powerful groups hasn’t been able to counteract the
powerful market forces that have brought gas prices down so quickly and dramatically:



 

Futures
@C - CORN - CBOT
Month Open High Low Last Change Close Time More
Mar 15 384'0 388'4 382'0 386'4 3'0 386'6s 02:00P Chart for @C5H Options for @C5H
May 15 392'0 396'6 390'0 395'2 3'2 395'2s 02:00P Chart for @C5K Options for @C5K
Jul 15 399'0 403'6 397'4 402'6 3'4 402'6s 02:00P Chart for @C5N Options for @C5N
@S - SOYBEANS - CBOT
Month Open High Low Last Change Close Time More
Mar 15 977'0 980'4 967'2 972'4 -4'0 972'6s 02:00P Chart for @S5H Options for @S5H
May 15 983'4 987'0 974'2 979'2 -3'4 979'4s 02:00P Chart for @S5K Options for @S5K
Jul 15 989'0 992'4 980'0 985'0 -3'4 985'2s 02:00P Chart for @S5N Options for @S5N
@W - WHEAT - CBOT
Month Open High Low Last Change Close Time More
Mar 15 532'6 536'0 526'2 529'0 -3'6 530'0s 02:00P Chart for @W5H Options for @W5H
May 15 537'0 538'6 529'4 531'6 -4'4 532'6s 02:00P Chart for @W5K Options for @W5K
Jul 15 540'6 542'4 533'4 536'2 -4'2 536'4s 02:00P Chart for @W5N Options for @W5N
@SM - SOYBEAN MEAL - CBOT
Month Open High Low Last Change Close Time More
Mar 15 3304 3341 3262 3308 14 3315s 02:00P Chart for @SM5H Options for @SM5H
May 15 3230 3260 3184 3234 11 3237s 02:00P Chart for @SM5K Options for @SM5K
Jul 15 3215 3243 3173 3216 7 3219s 02:00P Chart for @SM5N Options for @SM5N
@BO - SOYBEAN OIL - CBOT
Month Open High Low Last Change Close Time More
Mar 15 31.99 32.14 31.50 31.62 -0.37 31.60s 02:00P Chart for @BO5H Options for @BO5H
May 15 32.16 32.32 31.70 31.80 -0.37 31.79s 02:00P Chart for @BO5K Options for @BO5K
Jul 15 32.34 32.53 31.89 31.99 -0.36 31.99s 02:00P Chart for @BO5N Options for @BO5N
O - OATS - CBOT
Month Open High Low Last Change Close Time More
Mar 15 302'0 -0'4 290'4s 01/23 Chart for O5H Options for O5H
May 15 294'0 -0'6 294'0s 01/23 Chart for O5K Options for O5K
Jul 15 298'2 -1'0 298'2s 01/23 Chart for O5N Options for O5N
LH - LEAN HOGS - CME
Month Open High Low Last Change Close Time More
Feb 15 69.950 70.200 68.850 69.300 -2.300 69.300s 01/23 Chart for LH5G Options for LH5G
Apr 15 71.100 71.500 70.200 70.600 -2.225 70.650s 01/23 Chart for LH5J Options for LH5J
May 15 77.000 88.500 -2.750 76.775s 01/23 Chart for LH5K Options for LH5K
LC - LIVE CATTLE - CME
Month Open High Low Last Change Close Time More
Feb 15 151.900 152.200 150.350 150.650 - 3.000 150.350s 01/23 Chart for LC5G Options for LC5G
Apr 15 150.100 150.450 148.800 148.800 - 3.000 148.800s 01/23 Chart for LC5J Options for LC5J
Jun 15 143.900 144.250 142.775 143.900 - 3.000 142.775s 01/23 Chart for LC5M Options for LC5M
@AC - ETHANOL - CBOT
Month Open High Low Last Change Close Time More
Feb 15 1.405 1.441 1.405 1.433 0.037 1.430s 01/23 Chart for @AC5G Options for @AC5G
Mar 15 1.414 1.455 1.414 1.439 0.038 1.445s 02:00P Chart for @AC5H Options for @AC5H
Apr 15 1.465 1.469 1.460 1.460 0.038 1.462s 02:00P Chart for @AC5J Options for @AC5J
@DA - MILK CLASS III - CME
Month Open High Low Last Change Close Time More
Jan 15 16.11 16.13 16.08 16.08 0.07 16.08s 02:00P Chart for @DA5F Options for @DA5F
Feb 15 14.81 15.11 14.78 15.01 0.22 14.98s 02:00P Chart for @DA5G Options for @DA5G
Mar 15 14.50 14.68 14.42 14.61 0.25 14.64s 02:00P Chart for @DA5H Options for @DA5H
@TY - 10 YR US TREASURY NOTE - CBOT
Month Open High Low Last Change Close Time More
Mar 15 129'10.0 130'00.5 129'07.0 129'26.5 0'17.5 129'21.5s 02:00P Chart for @TY5H Options for @TY5H
Jun 15 128'24.0 129'12.5 128'24.0 129'03.5 0'19.0 129'03.5s 02:00P Chart for @TY5M Options for @TY5M
Sep 15 128'22.0 0'19.0 128'22.0s 01/23 Chart for @TY5U Options for @TY5U
@ZG - Not Authorized - ICEFU
Month Open High Low Last Change Close Time More
Jan 15 Chart for @ZG5F Options for @ZG5F
Feb 15 Chart for @ZG5G Options for @ZG5G
Mar 15 Chart for @ZG5H Options for @ZG5H
SP - S&P 500 INDEX - CME
Month Open High Low Last Change Close Time More
Mar 15 2053.50 2057.00 2043.50 2043.70 - 12.50 2043.90s 01/23 Chart for SP5H Options for SP5H
Jun 15 2046.50 2038.90 2020.00 - 12.60 2036.30s 01/23 Chart for SP5M Options for SP5M
Sep 15 2039.30 2031.70 2008.00 - 12.70 2029.00s 01/23 Chart for SP5U Options for SP5U
DJ - DJ INDUSTRIAL AVERAGE - CBOT
Month Open High Low Last Change Close Time More
Mar 15 17730.00 17740.00 17585.00 17632.00 - 149.00 17588.00s 01/23 Chart for DJ5H Options for DJ5H
Jun 15 17300.00 - 145.00 17519.00s 01/23 Chart for DJ5M Options for DJ5M
Sep 15 17429.00 - 145.00 17429.00s 01/23 Chart for DJ5U Options for DJ5U
My Custom Markets
Symbol Open High Low Last Change Close Time More

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prices for all of your fertilizer needs. We have very
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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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