CHART OF THE DAY
We note that this past Monday the USDA rated the US
corn crop 75% good/excellent, and if the past is
prologue to the future, the odds of the recent highs
being take out to the upside are obviously growing
smaller and smaller by the day
The above chart of new crop corn tells the story of timely planting, favorable
weather, lack of new fund capital inflow and historically high prices mixing
into a bearish brew. We still have plenty of growing season ahead of us, but
suggest rallies will be limited by the supersized looming stash of old crop.
Selll old crop and new crop on a bounce back to 3.70 cz10.
An excerpt from the Gartman Letter this morning"
Our old friend, Mr. Bill Gary, sent us a most interesting
note yesterday, looking at the weekly USDA crop
progress reports and “forecasting” today’s reports
forward. He notes that in the years when the corn crop
is rated 70% good/excellent on or near June 20,
December corn futures tend not to exceed the June high
Bill notes that
"Since 1986, there have been seventeen years
when the crop was rated 65% or higher on or
near June 20. In ten of the seventeen years
59%), December futures were unable to
exceed the June high during July or August
[and further] since 1986 there have been
eleven years when the crop rating on or near
June 20 was 70% or higher. In nine of the
eleven years (820, December futures were
unable to exceed the June high during July or August"
December [corn] futures tend to not exceed the June high…”
Local Cash Bids
North Central PAMill
Delivery
Cash
Basis
#2 Yellow Corn
Jul 31, 10
Aug 31, 10
Sep 30, 10
Nov 30, 10
Dec 31, 10
Mar 31, 11
#1 Yellow Soybeans
Jul 31, 10
Nov 30, 10
Mar 31, 11
#2 Soft Red Winter Wheat
Jul 31, 10
Sep 30, 10
Dec 31, 10
Mar 31, 11
May 31, 11
Sep 30, 11
Clearfield ASK FOR $
Delivery
Cash
Basis
#2 YC
Jul 31, 10
Aug 31, 10
Sep 30, 10
Western PA Farm
Delivery
Cash
Basis
#2 Yellow Corn
Jul 31, 10
Nov 30, 10
Dec 31, 10
Mar 31, 11
#1 Yellow Soybeans
Jul 31, 10
#2 Soft Red Wheat
Sep 30, 10
South Central PA Mil
Delivery
Cash
Basis
#2 Yellow Corn
Jul 31, 10
Aug 31, 10
Sep 30, 10
Oct 31, 10
Nov 30, 10
Dec 31, 10
Jan 31, 11
Feb 28, 11
Mar 31, 11
#2 Soft Red Wheat
Jul 31, 10
#1 Yellow Soybeans
Oct 31, 10
Eastern OH
Delivery
Cash
Basis
#2 Yellow Corn
Aug 31, 10
#1 Yellow Soybeans
Jul 31, 10
#2 Soft Red Winter Wheat
Jul 31, 10
Fob New Jersey
Delivery
Cash
Basis
#2 Yellow Corn
Jul 31, 10
#2 Soft Red Wheat
Jul 31, 10
#1 Yellow Soybeans
Jul 31, 10
Price as of 07/29/10 10:29PM CDT.
Click to view more Cash Bid Trading System
Local Conditions
Mifflintown, PA
Chg Zip Code:
Temp:
70 o F
Feels Like:
70 o F
Humid:
64 %
Dew Pt:
57 o F
Barom:
29.96
Wind Dir:
NNE
Cond:
Partly Cloudy
Wind Spd:
5 mph
Sunrise:
6:02
Sunset:
8:25
As reported at SELINSGROVE, PA at 11:00 PM
Local Radar
Mifflintown, PA
Local Forecast
Mifflintown, PA
Friday
Saturday
Sunday
Monday
Tuesday
High: 79 °F Low: 61 °F Precip: 0 % High: 84 °F Low: 56 °F Precip: 0 % High: 84 °F Low: 57 °F Precip: 60 % High: 83 °F Low: 61 °F Precip: 20 % High: 87 °F Low: 62 °F Precip: 20 %
View complete Local Weather
Futures
@C - CORN - CBOT
Month
Open
High
Low
Last
Change
Time
More
Sep 10
378'4
382'6
378'2
381'0
1'6
10:15P
Dec 10
393'0
397'0
393'0
395'2
1'4
10:15P
Mar 11
405'6
410'0
405'6
408'4
2'0
10:15P
@S - SOYBEANS - CBOT
Month
Open
High
Low
Last
Change
Time
More
Aug 10
1026'2
1034'6
1026'2
1034'2
7'4
10:17P
Sep 10
992'4
1000'0
992'4
999'4
6'6
10:17P
Nov 10
987'6
995'4
987'4
994'4
6'4
10:17P
@W - WHEAT - CBOT
Month
Open
High
Low
Last
Change
Time
More
Sep 10
626'2
635'4
625'6
632'6
5'2
10:17P
Dec 10
658'4
668'0
658'0
665'0
5'4
10:17P
Mar 11
680'0
690'2
680'0
688'4
5'4
10:17P
@SM - SOYBEAN MEAL - CBOT
Month
Open
High
Low
Last
Change
Time
More
Aug 10
3054
3082
3050
3082
28
10:15P
Sep 10
2930
2955
2926
2951
18
10:15P
Oct 10
2873
2895
2873
2895
22
10:15P
@BO - SOYBEAN OIL - CBOT
Month
Open
High
Low
Last
Change
Time
More
Aug 10
39.19
39.35
39.19
39.23
- 0.04
10:15P
Sep 10
39.41
39.50
39.34
39.40
- 0.01
10:15P
Oct 10
39.55
39.69
39.51
39.58
- 0.01
10:15P
O - OATS - CBOT
Month
Open
High
Low
Last
Change
Time
More
Sep 10
258'0
261'4
258'0
261'4s
4'4
01:45P
Dec 10
272'6
274'4
270'2
274'4s
5'2
01:45P
Mar 11
281'4s
5'2
01:45P
LH - LEAN HOGS - CME
Month
Open
High
Low
Last
Change
Time
More
Aug 10
84.450
84.900
84.200
84.850s
1.475
01:17P
Oct 10
77.900
78.400
77.650
78.075s
1.125
01:17P
Dec 10
74.950
75.250
74.750
74.925s
0.425
01:17P
LC - LIVE CATTLE - CME
Month
Open
High
Low
Last
Change
Time
More
Aug 10
92.950
93.250
91.800
91.850s
- 0.925
01:17P
Oct 10
94.550
94.900
93.250
93.475s
- 0.725
01:17P
Dec 10
96.275
96.500
95.250
95.350s
- 0.525
01:17P
@AC - DENATURED FUEL ETHANOL - CBOT
Month
Open
High
Low
Last
Change
Time
More
Aug 10
1.665
1.668
1.657
1.666s
0.025
01:40P
Sep 10
1.632
1.642
1.630
1.635s
0.019
01:40P
Oct 10
1.627s
0.014
06:00P
@DA - CLASS III MILK - CME
Month
Open
High
Low
Last
Change
Time
More
Jul 10
13.72
13.75
13.71
13.74s
- 0.01
04:02P
Aug 10
14.88
14.88
14.88
14.88
- 0.04
09:32P
Sep 10
15.37
15.39
15.37
15.37
0.00
09:56P
@DX - U.S. DOLLAR INDEX - ICEFU
Month
Open
High
Low
Last
Change
Time
More
Sep 10
81.760
81.840
81.705
81.765
0.011
10:18P
Dec 10
82.079
- 0.556
10:18P
Mar 11
82.439
- 0.556
02:09P
@TY - 10 YR US TREASURY NOTES - CBOT
Month
Open
High
Low
Last
Change
Time
More
Sep 10
123'07.5
123'13.5
123'06.5
123'12.5
0'09.5
10:17P
Dec 10
122'15.0
122'15.0
122'13.5
122'13.5
0'07.5
10:15P
Mar 11
121'04.5
121'12.5
121'04.5
121'00.0s
0'08.5
04:04P
@ZG - GOLD 100 OZ - NYSEL
Month
Open
High
Low
Last
Change
Time
More
Aug 10
1166.100
- 0.500
10:18P
Sep 10
1169.000
0.000
10:17P
Oct 10
1168.000
1168.000
1167.000
1168.000
- 1.800
10:18P
SP - S&P 500 INDEX - CME
Month
Open
High
Low
Last
Change
Time
More
Sep 10
1110.00
1112.80
1089.00
1097.00s
- 5.10
03:25P
Dec 10
1103.00
1107.40
1084.40
1092.30s
- 5.10
03:25P
Mar 11
1102.80
1079.80
1087.70s
- 5.10
03:25P
DJ - DJ INDUSTRIAL AVERAGE - CBOT
Month
Open
High
Low
Last
Change
Time
More
Sep 10
10510
10540
10340
10409s
- 39
03:25P
Dec 10
10344s
- 40
03:25P
Mar 11
10288s
- 40
03:25P
My Custom Markets
Symbol
Open
High
Low
Last
Change
Time
More
Keystone Commodities Co. (877) 343-4278 Bulletin
Quote of the Day
"If we couldn't laugh, we would all go insane."