Quote Ticker
  • CORN (Dec 14) 325'6 -4'4 9/23/14   1:11 PM CST
  • CORN (Mar 15) 338'4 -4'2 9/23/14   1:11 PM CST
  • CORN (May 15) 347'2 -4'0 9/23/14   1:10 PM CST
  • SOYBEANS (Nov 14) 936'0 -2'2 9/23/14   1:11 PM CST
  • SOYBEANS (Jan 15) 943'4 -2'2 9/23/14   1:10 PM CST
  • SOYBEANS (Mar 15) 950'6 -1'4 9/23/14   1:10 PM CST
  • WHEAT (Dec 14) 475'4 -1'2 9/23/14   1:09 PM CST
  • WHEAT (Mar 15) 487'6 -1'6 9/23/14   1:09 PM CST
  • WHEAT (May 15) 496'4 -2'4 9/23/14   1:09 PM CST
  • SOYBEAN MEAL (Oct 14) 3167 - 27 9/23/14   1:09 PM CST
  • SOYBEAN MEAL (Dec 14) 3083 - 22 9/23/14   1:09 PM CST
  • SOYBEAN MEAL (Jan 15) 3057 - 17 9/23/14   1:09 PM CST
  • SOYBEAN OIL (Oct 14) 32.34 0.34 9/23/14   1:09 PM CST
  • SOYBEAN OIL (Dec 14) 32.44 0.32 9/23/14   1:10 PM CST
  • SOYBEAN OIL (Jan 15) 32.69 0.30 9/23/14   1:09 PM CST
  • OATS (Dec 14) 344'4 -0'6 9/22/14   1:30 PM CST
  • OATS (Mar 15) 323'2 -0'4 9/22/14   1:30 PM CST
  • OATS (May 15) 315'6 -1'6 9/22/14   1:30 PM CST
  • LEAN HOGS (Oct 14) 107.900 0.600 9/23/14   12:59 PM CST
  • LEAN HOGS (Dec 14) 95.250 -0.450 9/23/14   12:59 PM CST
  • LEAN HOGS (Feb 15) 91.050 -0.800 9/23/14   12:59 PM CST
  • LIVE CATTLE (Oct 14) 155.425 - 0.075 9/23/14   1:00 PM CST
  • LIVE CATTLE (Dec 14) 158.700 0.050 9/23/14   12:59 PM CST
  • LIVE CATTLE (Feb 15) 159.950 - 0.650 9/23/14   12:59 PM CST
  • ETHANOL (Oct 14) 1.622 -0.013 9/23/14   1:03 PM CST
  • ETHANOL (Nov 14) 1.585 -0.015 9/23/14   12:42 PM CST
  • ETHANOL (Dec 14) 1.575 -0.010 9/23/14   12:36 PM CST
  • MILK CLASS III (Sep 14) 24.55 9/22/14   11:13 PM CST
  • MILK CLASS III (Oct 14) 24.66 0.04 9/23/14   1:08 PM CST
  • MILK CLASS III (Nov 14) 22.27 -0.08 9/23/14   1:09 PM CST
  • 10 YR US TREASURY NOTE (Dec 14) 124'17.0 0'08.0 9/23/14   1:10 PM CST
  • 10 YR US TREASURY NOTE (Mar 15) 123'11.0 0'04.5 9/23/14   12:03 PM CST
  • 10 YR US TREASURY NOTE (Jun 15) 123'06.5 0'09.0 9/22/14   2:01 PM CST
  • S&P 500 INDEX (Dec 14) 1978.00 - 8.30 9/23/14   1:07 PM CST
  • S&P 500 INDEX (Mar 15) 1972.00 - 6.50 9/23/14   12:01 PM CST
  • S&P 500 INDEX (Jun 15) 1843.60     CST
  • DJ INDUSTRIAL AVERAGE (Dec 14) 16990.00 - 109.00 9/23/14   12:57 PM CST
  • DJ INDUSTRIAL AVERAGE (Mar 15) 17030.00 - 113.00 9/22/14   3:16 PM CST
  • DJ INDUSTRIAL AVERAGE (Jun 15) 16940.00 - 113.00 9/22/14   3:16 PM CST


Local Cash Bids
North Central PAMill Delivery Cash   Basis    
 #2 Yellow Corn Chart Sep 30, 14    
  Chart Nov 30, 14    
  Chart Mar 31, 15    
  Chart May 31, 15    
 #1 Yellow Soybeans Chart Nov 30, 14    
 #2 Soft Red Winter Wheat Chart Sep 30, 14    
  Chart Dec 31, 14    
  Chart Mar 31, 15    
Western PA Farm Delivery Cash   Basis    
 #2 Yellow Corn Chart Oct 31, 14    
  Chart Nov 30, 14    
  Chart Dec 31, 14    
  Chart Jan 31, 15    
  Chart Feb 28, 15    
  Chart Mar 31, 15    
 #1 Yellow Soybeans Chart Oct 31, 14    
  Chart Nov 30, 14    
 #2 Soft Red Wheat Chart Sep 30, 14    
South Central PA Mil Delivery Cash   Basis    
 #2 Yellow Corn Chart Sep 30, 14    
  Chart Oct 31, 14    
  Chart Nov 30, 14    
  Chart Jan 31, 15    
  Chart Feb 28, 15    
  Chart Mar 31, 15    
 #2 Soft Red Wheat Chart Sep 30, 14    
 #1 Yellow Soybeans Chart Oct 31, 14    
  Chart Nov 30, 14    
Eastern OH Delivery Cash   Basis    
 #2 Yellow Corn Chart Oct 31, 14    
  Chart Nov 30, 14    
  Chart Dec 31, 14    
  Chart Jan 31, 15    
  Chart Feb 28, 15    
  Chart Mar 31, 15    
 #1 Yellow Soybeans Chart Oct 31, 14    
  Chart Nov 30, 14    
 #2 Soft Red Winter Wheat Chart Sep 30, 14    
Fob New Jersey Delivery Cash   Basis    
 #2 Yellow Corn Chart Sep 30, 14    
  Chart Oct 31, 14    
  Chart Nov 30, 14    
  Chart Dec 31, 14    
  Chart Jan 31, 15    
  Chart Feb 28, 15    
  Chart Mar 31, 15    
 #2 Soft Red Wheat Chart Sep 30, 14    
 #1 Yellow Soybeans Chart Oct 31, 14    
  Chart Nov 30, 14    
Price as of 09/23/14 01:21PM CDT.
Click to view more Cash Bid Trading System

CHART OF THE DAY

Septmber 9, 2014

Continuing Themes:
** Acres “set” at 91.6 million acres.  USDA raised yields to 167.4 bpa – further increases likely this wk.
** USDA estimates US corn conditions at 74% G-E vs. 56% last year.  Early harvest underway.
** World corn carryout seen expanding this year on good production prospects elsewhere & here.
** Ethanol margins remain highly profitable.  Hogs & Cow/Calf great.  Export competitiveness struggling.
** Spec funds basically net flat on corn to maybe a little short.
Overnight markets were generally a little softer, finishing 2-3 cents lower by the AM break.  With the
frost threat ebbing slightly (temps are still expected to be cold, but some forecasts are moderating the
severity and/or the “footprint”), the primary market focus returns to the harvest, which continues to
impress.  State-by-state harvest reports suggest it is moving into the Mid-South and extreme Southern
Midwest; TX was 57% complete, LA 82%, Miss 61%, Ark 36%, GA 87%, Ala 31%, So Car 81%, No Car 39%,
Missouri 6%, Kan 12%, Tenn 8%, and Ky 8%.  For what it’s worth, corn condition reports held very steady
on the week with few state-by-state changes.  G-E ratings are seen 74% this year vs. 54% last year and
57% five year average.  Maturity is still running a little behind average – both North Dakota & Wisconsin
have less than half of their crop dented, implying they would be somewhat vulnerable to a frost if it
occurs.    Regardless,  a  record  crop  is  nearly  impossible  to  derail  at  this  point,  and  traders  generally
expect the USDA to raise production forecasts significantly in the Sept WASDE, due Thursday.

Corn tested resistance on Friday, but frost talk proved unable to generate enough excitement to do
much more than that.  $3.60 CZ remains major resistance and the target to settle above to nullify bear
energy, while $3.45 stands as very minor support, below which there are price count objectives in the
$3.32 area.  Formation objectives suggest an eventual target in the $3.15-$3.20 area, which would
represent a significant opportunity to end-users.


Corn surrendered nearly all of Friday’s gains to start the week, settling 7-8 cents lower.  Funds sold back
what they bought Fri – 9,000 contracts.  Basis levels continue to ease in areas where harvest is spreading
to; barge bids were off 10 cents, along with interior bids in KS & S IL.  No deliveries were reported on the
Sept yet – that contract goes off the board Friday at noon.  Grain inspections Monday were robust, at
nearly 1.2 million metric tons, or 44 mil bu.  A quick glance at 13/14 exports to date uncovers a number
that is slightly less than current USDA forecasts for that marketing year?  The US Dollar traded to a new
one year high this morning, which will not help 14/15 sales?  Planting season is underway in Brazil, with
corn acres seen losing some ground to soy on low prices.  China is expected to auction off another 5
mmt of corn out of internal reserves.  They have sold 23.6 mmt out of a goal of 30 mmt.

 

Local Conditions
Mifflintown, PA
Chg Zip Code: 
Temp: 65oF Feels Like: 65oF
Humid: 51% Dew Pt: 46oF
Barom: 30.36 Wind Dir: N
Cond: N/A Wind Spd: 0 mph
Sunrise: 6:56 Sunset: 7:03
As reported at SELINSGROVE, PA at 1:00 PM
 
Local Radar
Mifflintown, PA
Radar
 
Local Forecast
Mifflintown, PA

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High: 70°F
Low: 39°F
Precip: 0%
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Low: 45°F
Precip: 0%
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Low: 55°F
Precip: 80%
High: 76°F
Low: 50°F
Precip: 0%
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Low: 50°F
Precip: 0%
View complete Local Weather

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Video Clips





 
Deflation is especially alive in the grain markets with the
bounces predicated upon fears of SDS in the soybean
crop or an early frost upon the corn crop as we look
toward tomorrow’s WASDE report. Ahead of that report
we note the following estimates for the US grain crops
and we’ll have guess-timates for world crops and
carryovers in tomorrow’s TGL ahead of the report (and
thanks Kate for the numbers!):
Estimates for US 2014 corn and bean production
? Corn production (23 analysts surveyed) average
estimate 14.288 billion bushels; range of estimates
are 14.00 -14.649 billion bushels; the USDA’s August
estimate was 14.032 billion bushels and the final
2013 corn production was 13.925 billion bushels
? Corn yield (23 analysts surveyed) average estimate
170.743 bushels/acre with a range of estimates from
168.5 – 174.1 bushels/acre. The USDA’s August
estimate was for 167.4 bushels/acre and the final
2013 corn yield was 158.8 bushels/acre.
? Bean production (23 analysts surveyed) average
estimate 3.883 billion bushels with a range of
estimates from 3.760-4.035 billion bushels. The
USDA’s August estimate was 3.816 billion bushels and
the final 2013 bean production was 3.289 BB.
? Bean yield (23 analysts surveyed) average estimate
46.293 bushels/acre. The range of estimates is 45.4-
48.0 bushels/acre and the USDA’s August estimate
was 45.4 bushels/acre compared to the final 2013
bean yield of 43.3 bushels/acre.
Estimates for ‘13/14 US ending stocks
? Corn (18 analysts surveyed) average estimate of
1.191 billion bushels. The range of estimates is 1.136-
1.231 billion bushels and this compares to the USDA’s
August estimate of 1.181 billion bushels.
? Beans (18 analysts surveyed) average estimate of
.136 billion bushels with the range of estimates .119
- .142 BB. This compares to the USDA’s August
estimate of .140 BB
Estimates for ‘14/15 US ending stocks
? Wheat (18 analysts surveyed) average estimate .667
billion bushels, with the range of estimates from .625
to .716 billion bushels. This compares to the USDA’s
August estimate of .663 billion bushels.
? Corn (19 analysts surveyed) average estimate 2.012
billion bushels over a range of 1.811-2.421 billion
bushels. This compares to the USDA’s August
estimate of 1.808 billion bushels.
? Beans (19 analysts surveyed) average estimate .453
billion bushels over a range of estimates from .353 to
.495 billion bushels. This compares to the USDA’s
August estimate of .430 billion bushels.
 
  •  

Futures
@C - CORN - CBOT
Month Open High Low Last Change Close Time More
Dec 14 329'4 331'0 325'2 325'6 -4'4 330'2 01:09P Chart for @C4Z Options for @C4Z
Mar 15 342'0 343'0 337'6 338'2 -4'4 342'6 01:09P Chart for @C5H Options for @C5H
May 15 346'6 351'4 346'2 347'0 -4'2 351'2 01:09P Chart for @C5K Options for @C5K
@S - SOYBEANS - CBOT
Month Open High Low Last Change Close Time More
Nov 14 936'0 944'4 931'0 935'6 -2'4 938'2 01:09P Chart for @S4X Options for @S4X
Jan 15 943'0 951'4 938'2 943'0 -2'6 945'6 01:09P Chart for @S5F Options for @S5F
Mar 15 950'0 958'0 944'4 949'6 -2'4 952'2 01:09P Chart for @S5H Options for @S5H
@W - WHEAT - CBOT
Month Open High Low Last Change Close Time More
Dec 14 475'4 479'6 471'0 475'4 -1'2 476'6 01:09P Chart for @W4Z Options for @W4Z
Mar 15 489'4 492'2 484'0 487'6 -1'6 489'4 01:09P Chart for @W5H Options for @W5H
May 15 499'0 500'2 492'2 496'4 -2'4 499'0 01:09P Chart for @W5K Options for @W5K
@SM - SOYBEAN MEAL - CBOT
Month Open High Low Last Change Close Time More
Oct 14 3189 3205 3163 3167 - 27 3194 01:09P Chart for @SM4V Options for @SM4V
Dec 14 3100 3119 3075 3083 - 22 3105 01:09P Chart for @SM4Z Options for @SM4Z
Jan 15 3072 3084 3048 3057 - 17 3074 01:09P Chart for @SM5F Options for @SM5F
@BO - SOYBEAN OIL - CBOT
Month Open High Low Last Change Close Time More
Oct 14 31.95 32.53 31.83 32.32 0.32 32.00 01:09P Chart for @BO4V Options for @BO4V
Dec 14 32.09 32.65 31.95 32.42 0.30 32.12 01:09P Chart for @BO4Z Options for @BO4Z
Jan 15 32.37 32.89 32.21 32.67 0.28 32.39 01:09P Chart for @BO5F Options for @BO5F
O - OATS - CBOT
Month Open High Low Last Change Close Time More
Dec 14 344'4 -0'6 336'4s 09/22 Chart for O4Z Options for O4Z
Mar 15 323'2 -0'4 323'2s 09/22 Chart for O5H Options for O5H
May 15 315'6 -1'6 315'6s 09/22 Chart for O5K Options for O5K
LH - LEAN HOGS - CME
Month Open High Low Last Change Close Time More
Oct 14 108.000 108.600 107.700 107.900 0.600 107.300 12:59P Chart for LH4V Options for LH4V
Dec 14 95.650 96.000 94.850 95.250 -0.450 95.700 12:59P Chart for LH4Z Options for LH4Z
Feb 15 92.000 92.150 90.950 91.050 -0.800 91.850 12:59P Chart for LH5G Options for LH5G
LC - LIVE CATTLE - CME
Month Open High Low Last Change Close Time More
Oct 14 155.125 155.800 154.550 155.425 - 0.075 155.500 01:00P Chart for LC4V Options for LC4V
Dec 14 158.500 159.100 157.900 158.700 0.050 158.650 12:59P Chart for LC4Z Options for LC4Z
Feb 15 160.150 160.350 159.500 159.950 - 0.650 160.600 12:59P Chart for LC5G Options for LC5G
@AC - ETHANOL - CBOT
Month Open High Low Last Change Close Time More
Oct 14 1.636 1.636 1.609 1.622 -0.013 1.635 01:06P Chart for @AC4V Options for @AC4V
Nov 14 1.600 1.611 1.580 1.585 -0.015 1.600 01:04P Chart for @AC4X Options for @AC4X
Dec 14 1.584 1.595 1.565 1.575 -0.010 1.585 01:09P Chart for @AC4Z Options for @AC4Z
@DA - MILK CLASS III - CME
Month Open High Low Last Change Close Time More
Sep 14 24.55 24.55 24.55 24.55 24.55 10:56A Chart for @DA4U Options for @DA4U
Oct 14 24.57 24.87 24.40 24.66 0.04 24.62 01:08P Chart for @DA4V Options for @DA4V
Nov 14 22.15 22.55 21.90 22.28 -0.07 22.35 01:09P Chart for @DA4X Options for @DA4X
@TY - 10 YR US TREASURY NOTE - CBOT
Month Open High Low Last Change Close Time More
Dec 14 124'08.5 124'18.0 124'08.0 124'17.0 0'08.0 124'09.0 01:09P Chart for @TY4Z Options for @TY4Z
Mar 15 123'08.5 123'13.0 123'08.5 123'11.0 0'04.5 123'06.5 01:05P Chart for @TY5H Options for @TY5H
Jun 15 123'06.5 0'09.0 123'06.5s 09/22 Chart for @TY5M Options for @TY5M
@ZG - Not Authorized - ICEFU
Month Open High Low Last Change Close Time More
Sep 14 Chart for @ZG4U Options for @ZG4U
Oct 14 Chart for @ZG4V Options for @ZG4V
Nov 14 Chart for @ZG4X Options for @ZG4X
SP - S&P 500 INDEX - CME
Month Open High Low Last Change Close Time More
Dec 14 1979.50 1987.80 1977.00 1978.00 - 8.30 1986.30 01:08P Chart for SP4Z Options for SP4Z
Mar 15 1972.00 1974.00 1969.00 1972.00 - 6.50 1978.50 01:05P Chart for SP5H Options for SP5H
Jun 15 1972.40 1961.90 1843.60 1971.40 Chart for SP5M Options for SP5M
DJ - DJ INDUSTRIAL AVERAGE - CBOT
Month Open High Low Last Change Close Time More
Dec 14 17030.00 17074.00 16990.00 16990.00 - 109.00 17099.00 01:04P Chart for DJ4Z Options for DJ4Z
Mar 15 17030.00 - 113.00 17030.00s 09/22 Chart for DJ5H Options for DJ5H
Jun 15 16940.00 - 113.00 16940.00s 09/22 Chart for DJ5M Options for DJ5M
My Custom Markets
Symbol Open High Low Last Change Close Time More

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Fertilizer
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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