2/3/12
GTE Corn Bids: (Bids subject to change)
Del. & (Fut.
Month)
Bid (Basis)
Feb
(Mar)
6.34 (-.11)
Mar (Mar)
6.50 (.05)
Apr
(May)
6.60 (.09)
May
(May)
6.63 (.12)
Jun
(Jul)
6.65 (.09)
Jul
(Jul)
6.67 (.11)
Regular corn receiving
hours are Monday through Friday 8:00-4:30.
Grain Market Info:
March Corn: 6.444
+1 ½
March Corn finished up 1 1/2 at 644 1/2, 2
off the high and 6 1/2 up from the low. May Corn closed up 1 1/4 at 650 3/4.
This was 6 1/2 up from the low and 2 off the high. March corn closed 1 1/2
cents lower on the session and closed up 2 3/4 cents for the week. News that
Taiwan bought 50,000 tonnes of corn from Argentina, talk of the overbought
condition of the market and nervousness that higher prices will slow demand
helped to spark some long liquidation selling and lower prices into the
mid-day. In addition, talk that the lower wheat crop for Ukraine will result in
higher corn production in the Ukraine for the coming year was also seen as a
negative factor. Jordon also bought 50,000 tonnes of Argentina corn for March
shipment. South Korea bought 174,500 tonnes of optional origin corn. With a
strong equity market and higher trade for other commodity markets, traders
expected corn to follow soybeans higher today but speculative sellers were a
bit more active than expected. The market managed a late bounce to close up
well off of the lows. On top of the sluggish export news, traders also pointed
out further projections that the lost winter wheat acreage in Ukraine will be
replanted in the spring to corn helped to limit the advance. March Rice
finished up 0.235 at 13.875, 0.025 off the high and 0.175 up from the low.
March Soybeans: 12.324
+15 ½
March Soybeans finished up 15 1/2 at 1232
1/2, 4 off the high and 18 1/2 up from the low. May Soybeans closed up 15 1/4
at 1240 3/4. This was 17 3/4 up from the low and 3 3/4 off the high. March
Soymeal closed up 5.2 at 328.6. This was 6.5 up from the low and 1.2 off the
high. March Soybean Oil finished up 0.46 at 51.65, 0.04 off the high and 0.57
up from the low. March soybeans closed 15 1/2 cents higher on the session and
closed up 13 1/2 cents for the week. Talk that China and maybe Europe were
active buyers of US soybeans this week plus a positive tilt from outside market
forces helped to support solid gains early in the session. The buying pushed
the market up to the highest level since January 26th. Both meal and oil were
also up strong this morning despite weakness in the other grains and talk of
the overbought condition of the market. March meal closed at the highest level
since October 14th and pushed above the January highs. Taiwan was tendering for
60,000 tonnes of optional origin soybeans for late March shipment and bought it
from Brazil. Canola stocks in Canada as of December 31st came in at 9.294
million tonnes which was a little higher than expected as compared with 9.4
million last year. Weather for South America still looks to be a bit negative
but talk of solid demand for meal and soybeans for export this week has helped
to drive the market higher. Open interest was up significantly on the week
which was seen as a positive technical development.
GTE
Feed Bids*:
*Call
for availability and to schedule a pickup. Feed bids below are subject to
change. See bottom of page for contact info.
Distillers
Wet Grain (Wet-Cake): Contract volumes available.
Spot Pricing currently at
$71/ton
January through April contract pricing is at $69/ton
May through September contract pricing is at $65/ton
Distillers
Dry Grain (DDG): (Limited availablility)
Spot Pricing currently at $205/ton upon availability
Corn
Solubles (Syrup): (Limited availablility)
Spot Pricing currently at $31/ton upon availability
Thin Stillage available upon request.
Jeff Geib
Commodities
Manager
Golden
Triangle Energy
(888)220-5646
Ext. 15 (Toll-Free)
(660)683-5646
Ext. 15
(660)683-5537
Fax
